Foreign countries propose to become agricultural partners

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People look at the electronic board showing the stock exchange rate in Yangon Stock Exchange on 6 January 2017.
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A farmer plowing in the field.

Foreign countries have put forward the practice of the Profit and Loss Sharing System in order to cooperate with Myanmar farmers in agribusiness, said an official from Myanmar Rice Federation.
Japan, China, China (Taipei), Singapore and Brunei proposed to cooperate with the farmers and a law concerning this system is needed to be formulated, he added.
Those companies which want to join hands with local farmers under the Profit and Loss Sharing System in agricultural production have to support pedigree paddy seeds, fertilizer, pesticides, agricultural equipment and modern techniques. This system means that companies have to purchase the rice at the prevailing price at the harvest time, it is learnt.

 

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