Basic food basket costs drop by 5.1% YoY from March to May

/ July 7, 2025


News Highlights

Economy and Industry

Basic food basket costs drop by 5.1% YoY from March to May The World Food Programme (WFP) has reported a 5.1% decline in the average cost of the Basic Food Basket (BFB) in Cambodia from March to May 2025. The average cost of BFB was approximately KHR 105,000 per person per month, equivalent to $25.6, a 5.1% YoY decrease compared to the same period in 2024. The decline was primarily attributed to the reduced prices of some food items in the basket, particularly mixed rice, which offset the price increase in vegetable oil and pork with fat. Market trends revealed dynamic shifts in retail prices of key commodities in the food basket during the quarter. Mixed rice showed a continued decline, averaging KHR 2,100 in May, down more than 20% from May 2024. Duck eggs remained relatively consistent, while morning glory exhibited price swings. Vegetable oil peaked at KHR 29,500 in March, then tapered slightly to KHR 29,100 in May, but still up sharply from 2024 figures. Snakehead fish prices held steady throughout the quarter, while pork with fat surged to KHR 18,390 by May. Sweet potatoes closed the quarter lower at KHR 2,360, reflecting modest softness in root crop prices. (Source: Khmer Times)

112 Cambodian farms approved to export fresh durian to China Cambodia has received permission from the General Administration of Customs of China (GACC) to export fresh durian directly to the Chinese market, following the signing of a protocol in April. The decision was made after the GACC assessed and approved registration applications of 112 durian farms and 30 packing facilities that met China's Good Agricultural Practices (GAP), phytosanitary requirements, and food safety standards. The Ministry of Agriculture, Forestry and Fisheries (MAFF) urged all owners of approved farms and packing facilities to strictly comply with the protocol's requirements, including being free from harmful substances, pesticides, and banned chemicals. Fresh durian is now the ninth Cambodian agricultural product approved for direct export to China, following rice, rice husks, dry cassava, corn kernels, bananas, mangoes, longans, pepper, and coconuts. (Source: Khmer Times)

Chinese medical glove leader announces significant expansion plans in Cambodia Chinese medical glove manufacturer, Shijiazhuang Hongray Group, is seeking a new location in Cambodia to expand its production of medical gloves and personal protective equipment (PPE). The company plans to install up to 10 additional manufacturing lines. Chairman Liu Guixi met with Secretary-General Chea Vuthy, the Secretary-General of the Cambodian Investment Board within the Council for the Development of Cambodia (CDC), and his team. Vuthy commended Shijiazhuang Hongray Group's existing partnership with Medtecs MSEZ Corp., Ltd., which led to the establishment of a medical glove facility in Svay Rieng province. He highlighted Cambodia's attractive investment climate, transparent, predictable, and open investment laws, and numerous opportunities in key sectors. The primary objective of the visit was to scout a new site in Cambodia to boost the company's manufacturing capacity, driven by the need to add as many as 10 new production lines. (Source: Khmer Times)

Corporate News

Ruder Finn Enters Cambodia and Mekong Region Through Acquisition of ERA Communications Ruder Finn, a leading independent communications and integrated marketing consultancy, has acquired Southeast Asia-based ERA Communications, a strategic move that strengthens its presence across Thailand, Vietnam, Cambodia, Laos, and Myanmar. The acquisition will see ERA's operations integrated under the new brand Ruder Finn Era, allowing the firm to maintain its local insight while accessing Ruder Finn's global expertise, technology, and client network. The move comes amid growing demand from global brands for integrated communications strategies tailored to emerging markets. ERA Communications, founded in 2015, has a reputation for bold and effective campaigns, collecting multiple regional awards. The Cambodian office will be opened under its larger region-wide expansion. The acquisition underscores how major communications players are repositioning around ASEAN's emerging economies, particularly Cambodia, which is gaining attention for its young consumer base and growing demand for strategic brand communications. With over 800 consultants in Asia-Pacific and key clients including Visa, Emirates, Four Seasons, L'Oreal, Hermès, and Volkswagen Group, Ruder Finn's expansion into Cambodia signals rising confidence in the market's long-term potential. (Source: Cambodia Investment Review)

Stock Market

CSX slightly down as GTI drops over 6% On 07 July 2025, the CSX Index declined by 0.05%, closing at 405.2 points. On the Main Board, PAS (+0.34%) and ABC (+0.29%) posted gains, while GTI (-6.39%) and PWSA (-0.30%) recorded losses. PPAP, PPSP, MJQE, and CGSM remained unchanged. On the Growth Board, DBDE remained unchanged, while JSL declined by 2.08%. Total trading volume reached 90,707 shares, with a turnover of KHR 604 million. (Source: YSC Research)

CSX Stocks


CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
405.23 -0.05 90,707 10,869

Stock Performance

Stock Close (KHR) 1D chg (%) MTD chg (%) YTD chg (%) 1M high (KHR) 1M low (KHR) MTD vol (shr) Mkt cap (KHR'bn)
PWSA 6,540 -0.30 0.93 2.83 6,580 6,320 56,130 569
GTI 5,860 -6.39 -9.85 15.35 8,700 5,860 71,599 234
PPAP 13,560 0.00 -0.15 -2.02 13,680 13,340 1,529 280
PPSP 2,110 0.00 0.00 -2.76 2,130 2,090 78,748 152
PAS 11,960 0.34 -3.24 3.46 12,380 11,880 42,350 1,026
ABC 6,920 0.29 0.00 -8.22 6,960 6,900 91,685 2,997
PEPC 2,680 0.00 1.90 12.13 2,720 2,620 1,139 201
MJQE 2,000 0.00 -0.50 -3.85 2,030 1,990 187,763 648
CGSM 2,430 0.00 0.00 0.00 2,440 2,420 37,707 4,761
DBDE 2,040 0.00 -0.49 -0.97 2,140 2,020 7,434 38
JSL 2,820 -2.08 2.17 -17.54 2,880 2,690 1,875 73
1D = 1 Day; 1M= 1 Month; MTD = Month-To-Date; YTD = Year-To-Date; Chg = Change; Vol = Volume; shr = share; Mkt cap = Market capitalization


Valuation Ratios

  EPS BPS* P/E P/B P/S EV/EBITDA
  ttm,mrq (ttm,KHR) KHR (ttm,x) (mrq,x) (ttm,x) (ttm,x)
PPWSA 4Q24 978 11,199 6.69 0.58 1.79 13.36
GTI 4Q24 48 7,057 122.08 0.83 0.70 22.50
PPAP 4Q24 2,550 22,115 5.32 0.61 1.66 3.34
PPSP 4Q24 220 3,866 9.60 0.55 2.85 5.04
PAS 4Q24 1,478 8,224 8.09 1.45 2.23 7.99
ABC 4Q24 1,140 13,790 6.07 0.50 0.92 NA
PEPC* 1Q25 -1,009 -17 NA -155.70 4.68 NA
MJQE 4Q24 37 307 53.88 6.52 3.95 12.02
CGSM 4Q24 52 606 46.71 4.01 6.79 16.11
JSL 4Q24 14 685 201.40 4.11 4.03 18.12
DBDE 4Q24 23 1,840 89.25 1.11 0.53 8.09
NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *FY ending in June, **excluding non-voting shares

Corporate Bonds

Trading Summary


Bond Symbol Trading Vol (Units) Trading Val (KHR'mn) Latest Yield Credit Rating Bond Feature Coupon Rate (%) Days to Maturity
ABC32A 0 0.0 - - khAA Subordinated Bond 8.50% 2,391
ABC32B 0 0.0 - - KhAA Subordinated Bond 8.50% 2,433
CGSM33A 0 0.0 - - KhAAA Sustainability Bond SOFR +3% or 5.5% per annum, whichever is higher 3,053
CIAF28A 0 0.0 - - KhAAA N/A 6.30% Annually 1,257
CIAF30A 0 0.0 - - KhAAA Guaranteed Bond 5.60% 1,704
GT27A 0 0.0 - - N/A Plain Bond, Green Bond 7% per annum 882
PPSP29A 0 0.0 - - KhAAA Guaranteed Green Bond Term SOFR + 1.5% 1,444
RRC32A 0 0.0 - - N/A Plain Bond 7% Annually 2,652
RRGO27A 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) 899
RRGT32B 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% per annum (take which one is higher) 2,726
SNTD40A 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 1.80% 5,378
SNTD40B 0 0.0 - - N/A Green Infrastructure Bond 180-Day Average SOFR + 1.60% (4.00% - 6.00%) 5,378
SNTD40C 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 3.00% 5,378
Government Bonds

Historical Issuance Summary

  1 Y 2 Y 3 Y 5 Y 10 Y
Total issuance ('K units) 238.1 312.0 187.3 10.0 0.0
Outstanding (KHR'bn) 58.0 236.0 187.3 10.0 0.0
Issuance ('K units, Latest) 34.0 0.0 12.0 0.0 0.0
Coupon rate (Latest) 2.70% 3.20% 3.50% 4.75% 5.25%
Successful yield (Latest) 3.25% - 3.50% - -
Latest bidding 23-Apr-25 21-May-25 25-Jun-25 45,581 45,525
*Total issuance is the accumulated issuance since September 2022; **Outstanding is aggregate principal value of government that remain outstanding; ***Successful yield: mid yields are shown if multiple price auction method was adopted.


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