Cambodian peppercorn exports in the first seven months of 2022 were 69.04 per cent lower on a yearly basis, in a drop insiders say was a result of demand slump triggered by Covid hangover and uncertain economic recovery, compounded by the ongoing Ukraine conflict, but is no cause for concern. The Ministry of Agriculture, Forestry and Fisheries reported that this year’s peppercorn exports stood at 6,990.7 tonnes as of July 31 – down from a respectable 22.58 kilotonnes in January-July 2021 – with Vietnam buying the lion’s share at 6,298.89 tonnes or 90.10 per cent. Other top destination markets for…
Author: Hin Pisei
Promoting digital literacy in the tourism sector amid the ever-evolving technological era will be crucial to bringing back international travellers after more than two years of pandemic shutdown, according to Minister of Tourism Thong Khon. The minister made the remark on August 22 during the mixed-format opening ceremony for a tourism digital literacy training programme for Phnom Penh and Siem Reap province, attended by about 300 people, including representatives from ministries, institutions, local and foreign development partners, and the private sector, as well as trainees. Khon stressed that digitalisation has become an important topic in the discourse of tourism development,…
Bilateral trade between Cambodia and the UK in the first seven months of 2022 rose by 45.5 per cent year-on-year, with further increases seen as London refines its new Developing Countries Trading Scheme (DCTS) to replace the Generalised Scheme of Preferences (GSP) early in 2023, which is expected to improve access to the UK market for Cambodian merchandise. General Department of Customs and Excise (GDCE) statistics show that from January to July, Cambodia-UK trade reached $581.374 million, compared to $399.583 million in the same period last year. Cambodian exports to the UK soared by 43.08 per cent to $527.733 million,…
The Cambodian securities sector sees tailwinds after the regulator, the bourse and the UN’s capital investment agency for the least developed countries entered into a partnership on development through technical assistance. A memorandum of understanding (MoU) on “The Technical Assistance for Promoting the Development of Securities Sector in Cambodia” was inked to this effect in the capital on August 18 between Securities and Exchange Regulator of Cambodia (SERC) director-general Sou Socheat, Cambodia Securities Exchange (CSX) CEO Hong Sok Hour and UN Capital Development Fund (UNCDF) executive secretary Preeti Sinha, in a ceremony presided over by Ministry of Economy and Finance…
Cambodia’s exports to Japan hit $667.925 million in the first seven months of 2022, rising by 11.75 per cent year-on-year from $597.715 million, as Tokyo provides a major concessional loan for an expansion of the Kingdom’s flagship deep-sea port, and growing investment paves the way for the consolidation of Cambodian goods on the Japanese market. In the January-July period, bilateral trade between Cambodia and Japan was to the tune of $1.138 billion, up 16.18 per cent year-on-year from $979.115 million, of which the Kingdom’s imports stood at $469.601 million, up 23.1 per cent from $381.401 million, according to the General…
The expanding domestic production and supply capacity for pigs and products thereof now ensures that 100 per cent of daily demand for pork is met nationwide, although the market rate for the meat has dropped by more than one-tenth on a yearly basis, according to the Cambodia Livestock Raisers Association (CLRA) president. Srun Pov told The Post on August 17 that domestically-raised live pigs currently cost an average of $2.80 per kilogramme, compared to $3.20 in August 2021, driven down by the number of the hoofed animals on the market. This and fears of a supply glut have resulted in…
The General Department of Taxation (GDT) on August 15 reported that January-July 2022 revenue was just over two-sevenths higher year-on-year, which observers credited to more straightforward and effective controls and implementation thereof, coupled with the rising use of a widening array of digital tools and solutions. The GDT said in an August 15 press release that it collected 8.951 trillion riel, or $2.210 billion, in the first seven months of this year, up by 1.990 trillion riel year-on-year, which is equivalent to $491.29 million or 28.6 per cent. This represents 78.39 per cent of the annual target set by the…
Minister of Tourism Thong Khon on August 16 reported that the number of domestic and international visitors to Siem Reap in the first seven months of 2022 was a bit behind track, at 54.54 per cent of the expected full-year total, as his ministry explores special travel offerings for the northwestern province and pushes to level up the hospitality scene as well as train and upskill workers. There were 1,242,854 visitors to the province in the January-July period, he noted, adding that the 2,278,854 travellers anticipated this year would mark a 326.75 per cent rise over 534,005 in 2021. The…
Cambodia exported about 660,000 tonnes of raw cashew nuts worth more than $1.077 billion to Vietnam in the first seven months of 2022, down by 350,000 tonnes or 34.65 per cent year-on-year, according to the head of the Cashew nut Association of Cambodia (CAC). This means that one tonne of raw cashew nuts sold to Vietnam over the period had an average price tag in the range of $1,618-1,646. The cashew (Anacardium occidentale) is a perennial cash crop that is widely grown in 10 major provinces, including Kampong Thom, Kratie, Preah Vihear, Kampong Cham and Tbong Khmum. The quality and…
The continuous entry of fibre, yarn and thread mills into the Cambodian market is set to considerably lessen the textile-related sectors’ dependence on imports of raw materials, observers have said. Newcomer Shun Wei Fang Zhi Ke Ji Co Ltd’s proposal for a $5.2 million fibre, yarn and thread mill in eastern Kampong Speu province has received the green light for a final registration certificate, the Council for the Development of Cambodia (CDC) said in an August 11 notice, adding that the project would create 226 jobs. Of note, Shun Wei Fang Zhi Ke Ji is currently not listed on the…