The Rural Development Bank (RDB) said yesterday the price of white rice has recovered slightly from a steep decline that was threatening the livelihoods of farmers.
According to RBD, the crop is once again “profitable.”
Earlier this week, officials of the Ministry of Commerce visited major rice-producing areas – including Battambang, Kampong Thom, Kampong Cham, Prey Veng and Takeo – to gather information on the price of white rice, after a number of complaints from farmers claiming that the value of the commodity was in sharp decline.
After its investigation, the ministry concluded the price had dropped by 15 percent.
However, RDB said yesterday that after a number of successful measures were implemented by local and national authorities, the price of the commodity is now back to profitable levels.
“Prices are good and profitable for farmers, particularly if we take into consideration the average expenses involved in growing rice,” RBD said in a statement yesterday, adding that it now costs around $700 to cultivate a hectare of paddy fields, including the cost of fertilizers, labour and transportation to storage facilities.
“Generally speaking, yields have increased by an average of six tonnes per hectare.
