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Agriculture Trends in Cambodia

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Quoted from Neak Oknha Mong Reththy speaking at the 14th Government Private Sector Forum, Nov 2008

An estimated 85 per cent of 14 million Cambodians live in rural areas and depend upon agricultural cultivation as their primary means of subsistence or livelihood. Intervention to improve agricultural performance will greatly benefit a large number of people who are among those most affected by poverty.

The Cambodian agriculture and agro-industry sector has developed significantly in recent years and has great potential for investment, employment creation and as a source for economic growth. For instance, rice production has increased by more than 50 per cent since 2005. However, the sector is starting from a low base and suffers from fragmented and weak supply chains, low productivity and underdeveloped infrastructure. Support structures that will enable increased yield, quality and access to markets are also deficient.

Cambodian Currency

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The official currency of Cambodia is riel ISO 4217 (KHR). There were two issues of Cambodian riel, the first issued was on January 1, 1955, and the second issued was on April 1, 1980.

Brief History of Cambodian Currency

According to Global Financial Data, from the ninth to tenth centuries, Cambodia imported Pyu and Mon coins from the Mon kingdom of Dvaravati, whose remnants can still be found in the central part of present-day Thailand. For a fact, coins were not produced in Cambodia until the sixteenth century. In the 1850s HM King Ang Duong of Cambodia (1841-1859) issued the first machine-made coins, known asCambodian Tical. The Tical was divisible into 8 Fuang and 64 Att.

Banking in Cambodia

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Banking sector in Cambodia is growing and has managed to withstand the onslaught from the global economic crisis, local media reported on Thursday, quoting the director general of the National Bank of Cambodia (NBC).

Cambodia Economy

Cambodia is one of the world's poorest nations. In 1999 its total Gross Domestic Product (GDP) was $3.1 billion, yielding a per capita GDP of just $270, among the lowest in the world.

Even before being plunged into civil conflict in the 1970s, Cambodia lacked significant industrial development, with most of the labor force engaged in agriculture. The country was self-sufficient in food and produced exportable surpluses of its principal crops of rice and corn. In spite of relatively low yields and a single harvest per year, Cambodia annually exported hundreds of thousands of tons of rice.

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