CRF, Singapore’s FairPrice hold talks on rice deal
Discussions are ongoing between the Cambodia Rice Federation (CRF) and NTUC FairPrice Group to establish a long-term rice supply agreement aimed at boosting Cambodia’s rice exports to Singapore. Chan Sokheang, President of CRF, and Ho Wah Lee, Independent Director of NTUC FairPrice, met in Phnom Penh to explore this partnership. With Singapore relying heavily on food imports, this deal could enhance food security and serve as a model for regional agricultural trade. Cambodia, which exported 338,654 tonnes of rice in the first half of 2024, seeks to diversify its markets and reduce reliance on traditional partners.
Discussions between the Cambodia Rice Federation (CRF) and NTUC FairPrice Group, one of Singapore’s largest retailers, are underway to establish a long-term rice supply agreement, aiming to significantly increase Cambodia’s rice exports to Singapore.
Chan Sokheang, President of the Cambodia Rice Federation, met with Ho Wah Lee, Independent Director of NTUC Fairprice Group of Singapore, on a rice deal in Phnom Penh.
NTUC FairPrice is the largest supermarket chain in Singapore. The company is a cooperative of the National Trades Union Congress (NTUC). The group has more than 100 supermarkets across the island, with over 160 outlets of Cheers convenience stores island-wide.
Singapore with its limited agricultural land, relies heavily on imports to meet its food needs, the two parties are exploring ways to expand trade and foster a sustainable partnership.
The talks were held to establish a long-term partnership plan for supplying rice as part of food security to Singapore.
“Singapore is one of Cambodia’s rice exporting destinations despite the low amount of export,” CRF Secretary General Lun Yeng told Khmer Times on Thursday.
If successful, the long-term cooperation between Cambodia and Singapore could serve as a model for agricultural trade in the region. It would also contribute to Cambodia’s efforts to diversify its export markets and reduce its reliance on traditional trading partners.
Cambodia exported 338,654 tonnes of milled rice in the first six months of 2024, a year-on-year increase of 2.7 percent, a CRF report showed. Exports to seven ASEAN members hit 74,554 tonnes worth $51 million, added the release.
Source Link : https://www.khmertimeskh.com/501538158/crf-singapores-fairprice-hold-talks-on-rice-deal/
Recommended for you
