The Agriculture and Rural Development Bank (ARDB) urged all rice mill owners to buy rice from farmers at a market price through ARDB loan support, as the government aims to collect over one million tonnes for export, a Battambang Chamber of Commerce press release said.
Kao Thach, Director-General of ARDB, held a meeting with the rice miller and exporters from Pursat, Battambang and Banteay Meanchey provinces at the office of Battambang Chamber of Commerce.
During a meeting, Kao Thach encouraged all millers to help buy rice from farmers as much as possible at the market price. He hoped all owners will work together in solidarity to improve farmers’ livelihoods and successfully export one million tonnes of rice according to the government plan.
He assured that ARDB will continue to provide loans to the rice mill
owners to purchase rice from farmers in the upcoming harvest season. He recommended setting up many rice markets in their areas to make it easier for farmers to gather and sell it out which could reduce the cost of transportation of the farmers.
Kao Thach also urged the representatives of rice buyers to make payments through the application of ARDB bank when purchasing agricultural products, which can be transferred to other banks easily and quickly.
In addition, he suggested all rice millers apply for additional loans from the ARDB bank in case of lack of
funds. The banks only require some information to approve a load or stockpile of rice as collateral.
The bank will monitor the use of loans under the special financing scheme of the government to ensure the stability of rice prices provided through ARDB at the location of five rice mill factories in Maung Russey district, Battambang and Banteay Meanchey province. He asked them to be united, not to compete with each other but to work together to promote the prosperity of the rice sector in the country.
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