Thursday June 20, 2019

Cambodian farmers to try out Organic farming over rice farming

The major advantage regarding growing vegetables is that they sell at higher prices.

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Rice farming in Cambodia. Image Source: Wikipedia.org
  • Farmers of Cambodia’s Kampong Speu province are eager to grow vegetables like- spinach, cauliflower, lettuce or collard greens
  • here were 7 million people in 2007 under below the poverty line. However, the figure had reduced to 3 million in 2012. But, this growth had declined in last two years
  • According to World Bank, vegetables fetch an income of $1575 per hectare while it is $544 per hectare for cassava and $307 per hectare for rice

Rice is grown by the majority of farmers in Cambodia. But now, farmers have started realizing that growing organic food is also a healthy option and can attract more profit.

Following rice, cassava and maize are the other crops grown by the farmers. But this time farmers of Cambodia’s Kampong Speu province are eager to grow vegetables like- spinach, cauliflower, lettuce or collard greens.

“While the vast majority of Cambodian farmers grow rice, and to a lesser extent cassava and maize, only about a quarter do so commercially,” says an analysis done by VOA.

The major advantage regarding growing vegetables is that they are sold at higher prices. Moreover, it requires only a month and a half to harvest. On the other hand, rice requires almost 6 months to harvest.

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According to farmers, the vegetables grown locally tastes sweet while that imported from other countries tastes plain. They also gave an example of collard greens, which taste sweet when grown locally to validate their point.

Watch this:

https://youtu.be/flB06T6wKuA

According to a recent study of the World Bank the agriculture sector has helped the people living below the poverty line and has reduced their number as well. There were 7 million people in 2007 below the poverty line. However, the figure had reduced to 3 million in 2012. But, this growth had declined in last two years.

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The World Bank has also suggested that Cambodian farmers need to focus on greater yields by increasing the input and trying different crops to increase their productivity. However, farmers are finding it difficult to implement.

The report also suggests that vegetables fetch an income of $1575 per hectare while it is $544 per hectare for cassava and $307 per hectare for rice.

– The information has been compiled by Aparna Gupta, an intern with NewsGram. Twitter @writetoaparna99

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World Bank: Russia Banking Sector Remains at Risk Despite Recent State Costly Bailouts

"The banking sector remains afflicted with high concentration and state dominance," the World Bank said in the report

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world bank, russia banking sector
A Russian flag flies over the headquarters of the country's central bank in Moscow (file photo) RFERL

The World Bank says Russia’s banking sector is stabilizing but remains at risk despite recent state bailouts of Russian banks totaling tens of billions of dollars.

In a scheduled report dated June 10, the Washington-based lender estimated that state-owned banks now account for 62 percent of all assets at Russian banks following the closure of hundreds of lenders in recent years and the rescue of several major financial institutions.

“The banking sector remains afflicted with high concentration and state dominance,” the World Bank said in the report. The warning comes less than a week after the World Bank, the lending arm of the International Monetary Fund, cut Russia’s 2019 economic growth forecast to 1.2 percent from a previous estimate of 1.5 percent because of oil production cuts.

world bank, russia banking sector
“The banking sector remains afflicted with high concentration and state dominance,” the World Bank said in the report. Pixabay

While the bank said Russia’s macroeconomic and fiscal buffers were strong, economic growth prospects remained modest. “Downside risks to Russia’s growth outlook stem from the potential expansion of sanctions, deterioration of financial market sentiment, souring global trade environment and a dramatic drop in oil prices,” the report said.

Russia’s business climate faces stiff headwinds for many reasons, including the economic sanctions imposed by the United States, Japan, and European allies for Moscow’s 2014 seizure of Crimea, along with alleged Russian interference in U.S. elections.

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The World Bank projected annual economic growth for the years 2020 and 2021 at 1.8 percent. “On the upside, national projects aimed at strengthening human capital and increasing productivity, if well-implemented, could positively affect Russia’s potential growth in the medium-term,” the bank said in its report.

Russia’s economy expanded 2.3 percent in 2018, aided in large part by one-off projects, buoyant energy prices, and an influx of tourists for the soccer World Cup. (RFERL)