Broken rice export rising through Muse border

Export of broken rice to China via the Muse border has increased as it generated profit over the appreciation of the Chinese yuan, says U Min Thein, Vice-Chairman of the Muse Rice Commodity Exchange.
In the past month, foreign exchange rates have risen in the domestic market and the Chinese yuan has also appreciated.
Rice and broken rice are being exported. When we send it to China, we get Chinese yuan from them. It’s convenient for us. There is no more profit for importers, he said.
Exports including rice and broken rice are being delivered through the Muse-Kyinsankyawt route every day and about 50 trucks are going to China every day, he added.
At the border, more broken rice is being exported than rice, and the price of a 50-kilogram bag of broken rice is 120 yuan in Muse and rice price is between 140-150 yuan, according to market reports.
“More broken rice is exported. Sales of rice remain weak. Chinese traders give us at the normal rate,” U Min Thein said.
In the domestic market, prices of rice and broken rice are strong and the quality of rice is improving over the increase in broken rice prices, said traders. — TPT/GNLM