Agro exports show remarkable growth despite slump in other export groups

IMG20210101170742 picsay NS
Myanmar agro-products are primarily exported to China, Singapore, Malaysia, the Philippines, Bangladesh, India, Indonesia, and Sri Lanka.

The agricultural exports spike to a high of US$3.289 billion in the past seven months (Oct-Apr) of the current financial year 2020-2021, despite the downward trend in other export groups amid the banking restriction tightened coronavirus containment measures in the border.
The figures reflect a significant rise of $901 million this FY. The agro exports topped $2.38 billion in the corresponding period of the 2019-2020FY, according to the trade figures released by the Ministry of Commerce.
The agricultural exports unexpectedly surge regardless of the impact of the coronavirus on foreign demand for other export groups such as fishery, livestock, mineral, forest products, finished industrial goods and other goods.
In the exports sector, the agriculture industry performed the best, accounting for over 22 per cent of overall exports. The top export items in the agricultural industry 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. They are currently exported to external markets based upon supply and demand. Contract farming systems, regional and state agriculture departments, exporters, traders, and some grower groups are required to meet production targets, said an official from the Agriculture Department.
The Commerce Ministry is working to help farmers deal with challenges such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather conditions. — KK/GNLM

Share this post
Hot News
Hot News
Over K3.2 bln earmarked for loans to farmers in Chin State in financial year 2024-25
School for the Blind to train playing musical instruments
Myanmar rice exports surpass US$712 mln in 11 months
Phase I of Shwedagon to Public Square underpass construction completed
Promotional video-shooting tour highlights Nay Pyi Taw, Bagan
ME to issue certificates of identity for undocumented migrant workers in Malaysia
MoALI Union Minister meets Myanmar Apiculture Association to boost honey production
MoC Deputy Minister attends EV charging station opening ceremony, inspects toll gates
SAC member attends 62nd anniversary of Peasants’ Day in Pathein
Tatmadaw denies arresting over 100 Muslims; Recruitment from Nay Pyi Taw and Mandalay