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Agricultural export tops $485 mln as of 19 Nov

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In the exports sector, the agriculture industry performed the best, accounting for 37 per cent of overall exports. The chief items of export in the agricultural sector are rice and broken rice, pulses and beans and maize. Fruits and vegetables, sesame, dried tea leaves, sugar, and other agro products are also shipped to other countries.

The value of agricultural exports slid to US$485 million as of 19 November in the current mini-budget period (October 2021-March 2022), as per the statistic of the Ministry of Commerce.
The agro exports stood at $508.44 million in the corresponding period of the 2020-2021FY. The figures reflect a small decrease of $23 million as the main trade partner China shut down all the borders in the wake of COVID-19 negative consequences, according to the trade figures released by the Ministry of Commerce.
Starting 26 September, Kyinsankyawt border posts between Myanmar and China has reopened on a trial run.
Traders cannot expect trade facilitation according to the changes in China’s policy during the COVID-19 pandemic. If the restrictions are eased and negotiation goes smooth, the trade will go back to normality, traders said.
During the mini-budget period, the coronavirus pandemic impacted the foreign demand for agricultural products, livestock, mineral and finished industrial goods. On the contrary, the exports of the fishery, forest products and other goods rose slightly.
In the exports sector, the agriculture industry performed the best, accounting for 37 per cent of overall exports. The chief items of export in the agricultural sector are rice and broken rice, pulses and beans and maize. Fruits and vegetables, sesame, dried tea leaves, sugar, and other agro products are also shipped to other countries.
Myanmar agro-products are primarily exported to China, Singapore, Malaysia, the Philippines, Bangladesh, India, Indonesia, and Sri Lanka. Sometimes, the export market remains uncertain due to unsteady global demand.
The country requires specific export plans for each agro-product, as they are currently exported to external markets based upon supply and demand. The G-to-G pact also ensures a strong market for the farmers.
Contract farming systems, involvement of regional and state agriculture departments, exporters, traders, and some grower groups, are required to meet production targets, the Agriculture Department stated.
The Commerce Ministry is endeavouring to help farmers deal with challenges such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather conditions.
The agricultural exports jumped to US$4.6 billion in the last financial year 2020-2021, despite the downward trend in other export groups. — KK/GNLM

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