PM weighs in on rice lending
Rice millers said on September 18 they welcomed the prime minister’s announcement that the government would make over $20 million in funds available shortly to support cash-strapped millers and prop up falling paddy prices.“We’ve been waiting for these loans for a long time like fish waiting to be fed,” said Phon Nary, director-general of Heng Huch Rice Mill in Battambang province. “I hope to receive the loans soon so that we can survive.” Cambodia’s rice industry is facing a crisis as two consecutive years of drought take their toll on farmers and millers struggle to stay afloat. Millers have repeatedly called on the government and industry bodies to facilitate emergency loans, arguing that liquidity shortages prevent them from purchasing paddy rice from farmers, one factor contributing to a steep decline in market prices on paddy in recent weeks.
