Cam­bo­dian rice among the world’s best three

The Myanmar Times - Weekend - - International Business -

CAM­BO­DIA’S pre­mium fra­grant rice was voted one of the best in the world in the lat­est global com­pe­ti­tion, com­ing in the top three.

Thai­land’s Horm Malis rice came out on top, tak­ing home the ti­tle of World’s Best Rice.

The 9th edi­tion of the World Rice Con­fer­ence took place in Ma­cau yes­ter­day, with seven coun­ties – Cam­bo­dia, Thai­land, Viet­nam, the US, Pak­istan, Sri Lanka and Myan­mar – en­ter­ing 21 dif­fer­ent rice va­ri­eties.

Cam­bo­dia en­tered three brands – two pre­mium fra­grant rice va­ri­eties and one fra­grant rice – se­lected dur­ing a na­tional com­pe­ti­tion held last week.

Moul Sarith, the sec­re­tary-gen­eral of the Cam­bo­dia Rice Fed­er­a­tion (CRF), con­grat­u­lated Cam­bo­dian rice farm­ers for the great re­sults, but lamented that the king­dom did not take home the ac­co­lade.

“It was a close call for the judges, but ul­ti­mately the Thai va­ri­ety, which is very sim­i­lar to our own va­ri­ety, won,” Mr Sareth said.

He be­lieved the pos­i­tive re­sults will help boost sales of the Cam­bo­dian com­mod­ity.

A Cam­bo­dian va­ri­ety called Phka Rum­duol, but of­ten also called phka malis or Cam­bo­dia jas­mine rice by millers and traders, won the com­pe­ti­tion from 2012 to 2014, but lost its crown in 2015 to a rice va­ri­ety from Cal­i­for­nia.

Last year, an­other Thai brand from Chi­ang Mai took home the cov­eted prize at the eighth edi­tion of the event.

Chan Sokheng, the chair­man of rice ex­port com­pany Sig­na­ture of Asia, said that af­ter Cam­bo­dian rice was crowned the world’s best in 2012 his sales rose dra­mat­i­cally.

Phou Puy, the pres­i­dent of Green Rice Miller in Bat­tam­bang prov­ince, said par­tic­i­pat­ing in the in­ter­na­tional con­test alone will en­hance the rep­u­ta­tion of the Cam­bo­dian grain.

“Whether we win or lose, we can ex­pect more or­ders from in­ter­na­tional buy­ers, as the com­pe­ti­tion will serve as a win­dow to show­case our prod­ucts,” he said. – Kh­mer Times REP­RE­SEN­TA­TIVES from Span­ish en­ergy com­pany Rep­sol on Tues­day met with lead­ers of the Bình Sѫn Re­fin­ery and Petro­chem­i­cal Co Ltd (BSR) to seek op­por­tu­ni­ties to in­vest in the Dung Quҩt Re­fin­ery.

Dur­ing the meet, Rep­sol said the com­pany not only wants to own shares of Dung Quҩt Re­fin­ery, but also wants to par­tic­i­pate in the plant’s man­age­ment, op­er­a­tion and trade.

Lead­ers of BSR, which op­er­ates the Dung Quҩt Re­fin­ery, agreed with Rep­sol’s pro­posal to set up two ne­go­ti­at­ing teams to fur­ther dis­cuss co-op­er­a­tion be­tween the two sides early.

Dung Quҩt Re­fin­ery, which holds one-third of the petroleum mar­ket share in Viӌt Nam, plans to sell 4-6 per cent of its stake in Jan­uary next year.

Fol­low­ing the IPO, the Min­istry of In­dus­try and Trade (MOIT) plans to con­tinue trans­fer­ring 49 per cent stake to strate­gic share­hold­ers in 2018, which means the State’s own­er­ship ra­tio in Dung Quҩt will be lower than 50 per cent. This will al­low pri­vate in­vestors to con­trol the No.1 oil re­fin­ery in Viӌt Nam.

Un­der the cur­rent law, for­eign in­vestors are not al­lowed to dis­trib­ute petrol prod­ucts in Viӌt Nam, un­less they have oil re­finer­ies in the coun­try. There­fore, an­a­lysts pre­dict for­eign con­glom­er­ates will buy stake in Viӌt Nam’s oil re­fin­ery to ob­tain the right to dis­trib­ute petrol prod­ucts.

The Viet­namese en­ergy mar­ket is wit­ness­ing the high­est growth rates in the re­gion. The to­tal de­mand for petroleum prod­ucts in Viӌt Nam in 2015 was 17.5 mil­lion cu.m. Ac­cord­ing to the World Bank, av­er­age petroleum con­sump­tion per capita in Viӌt Nam has in­creased by 5 per cent per year. The de­mand mostly comes from three sec­tors – trans­port (65 per cent), in­dus­trial pro­duc­tion (20 per cent) and peo­ple’s con­sump­tion.

Dung Quҩt’s busi­ness per­for­mance is im­pres­sive. It posted rev­enue of VNÐ74 tril­lion and net profit of VNÐ4.492 tril­lion last year, which means a rate of re­turn on eq­uity (ROE) of 14 per cent.

By the end of Oc­to­ber, the rev­enue of the oil re­fin­ery reached VNÐ63.3 tril­lion and its ROE rate was 16.09 per cent.

– Viet­nam News

Newspapers in English

Newspapers from Myanmar

© PressReader. All rights reserved.