The value of Myanmar’s rice and broken rice exports crossed US$166 million from over 380,000 tonnes in the past five months (April-August) of the current financial year 2023-2024, comprising 350,070 tonnes in maritime trade and 29,314 tonnes in border, according to the Myanmar Rice Federation (MRF).
The export volumes were registered at 87,648 tonnes worth $36 million in April, 110,706 tonnes worth $48 million in May, 62,725 tonnes worth $28 million in June, 58,334 tonnes worth $26 million in July and 59,971 tonnes worth $28 million in August respectively.
The rice export volume recorded the highest in May and declined in June, July and August.
MRF aims to achieve 2.5 million tonnes of robust rice export in the current FY, generating an income of US$1 billion. Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the past 2022-2023 FY (April-March), with an estimated value of $853.472 million.
Last FY, China was the main buyer of Myanmar’s rice and broken rice with over 775,000 tonnes, followed by Belgium with 323,000 tonnes, Bangladesh with over 239,000 tonnes and the Philippines with over 202,000 tonnes.
Myanmar has been exerting concerted efforts to grow 10 per cent yearly in the rice export. To increase foreign income, it has been prioritizing the exportation of high-grade rice and boosting export volume, MRF stated.
Myanmar pocketed over $809.135 million from approximately 2.164 million tonnes of rice export in the 2021-2022 FY (April-March). — NN/EM