PHNOM PENH, May 6 (Xinhua) -- Cambodia's rice exports to China had increased after the European Union (EU) imposed tariffs on rice from the kingdom, said a World Bank report released on Monday.
In January, the EU imposed duties for three years on rice importing from Cambodia in a bid to curb a surge in rice imports from the kingdom and protect European producers.
The EU reinstated the normal customs duties of 175 euros per ton in year one, progressively reducing it to 150 euros per ton in year two and 125 euros per ton in year three.
"As a result, in February 2019, Cambodia's milled rice exports to the EU reached only 10,080 tons or a 57.8-percent month-on-month decline," the World Bank said in its Cambodia Economic Update, adding that Cambodia exported 270,000 tons, or 43 percent of total milled rice exports, to the EU market in 2018.
"Overall, the decline of Cambodia's rice exports to the EU was more than offset by the increase in the country's rice exports to the Chinese market," the report said.
Cambodia's rice exports to the Chinese market grew 45.6 percent, the report said, adding that as a result, Cambodia's milled rice exports managed to increase 2 percent during the first two months of 2019.
The report said in 2018, Cambodia's milled rice exports to China reached 170,154 tons, or 27 percent of total milled rice exports.
It added that official data show that Cambodia earned 413.5 million U.S. dollars from its milled rice exports last year.
