PHNOM PENH: The Cambodian government has provided a special bailout of US$30 million to buy paddy from rice farmers, to help stabilise the market amid the dramatic rise in paddy prices, an official said.
Speaking at a press conference live televised Wednesday (Jan 15) night, Kao Thach, chief executive officer of the state-owned Agricultural and Rural Development Bank, said the government has always paid high attention to the agricultural sector, especially to the livelihoods of farmers.
"To stabilise the price of paddy, the government decided today to provide an additional special bailout of $30 million through the Agricultural and Rural Development Bank to purchase paddy from farmers," he said.
The latest move came after the price of OM rice varieties dropped significantly to about 800 riels ($0.2) per kilogramme since January this year from about 1,350 riels ($0.33 dollar) per kilogram in previous years.
According to Thach, since 2016, the government has given a special bailout of more than $200 million to keep the price of paddy stable. - Xinhua
