Agro exports down by $53 million

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Vendors are seen at Danyingone wholesale fruit, vegetable and flower market in Yangon.  Photo: Zaw Gyi

The export of agriculture products from 1 April to 18 May in the current six-month transitional period for the 2018-2019 fiscal year was valued at US$394 million, decreasing slightly by some $53 million compared to the same period in the 2017-2018 FY, according to trade figures released by the commerce ministry.
The decrease in agro exports is attributed to the low demand from China. Chinese buyers are currently watching the market. Additionally, mung bean and pigeon pea markets have not fully recovered yet, following India’s restrictions on the importation of mung beans and pigeon peas.
In the export sector, the agriculture industry performed the best, along with natural gas exports. The main export goods in the agriculture sector are rice and broken rice, pulses, corn and rubber. Fruits and vegetables, sesame, dried tea leaves, sugar and other agro products are also exported to foreign countries.
The commerce ministry is striving to help deal with the challenges faced by farmers, such as high input costs, procurement of pedigree seeds, high cultivation costs and erratic weather problems.

 

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