The value of Myanmar’s rice and broken rice exports exceeded US$845 million from over 1.68 million tonnes in the financial year 2023-2024 (April-March), comprising 1.59 million tonnes by seaborne trade and over 89,000 tonnes at the border, statistics released by Myanmar Rice Federation (MRF) showed.
The export volumes were registered at 87,648 tonnes worth $36 million in April 2023, 110,706 tonnes worth $48 million in May, 62,725 tonnes worth $28 million in June, 58,334 tonnes worth $26 million in July, 59,971 tonnes worth $28 million in August, 84,773 tonnes worth $42 million in September, 119,526 tonnes worth $63 million in October, 175,990 tonnes worth $90 million in November, 195,829 tonnes worth $99 million in December, 213,605 tonnes worth $111 million in January 2024, 262,116 tonnes worth $139 million in February and 257,037 tonnes worth $133 million in March respectively.
Therefore, the rice export volume recorded the highest in February, followed by March and January. The figures showed a drop in June, July and August.
The federation aims to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of US$1 billion. However, rice exports fell short of the target.
The Central Bank of Myanmar’s monetary policy to control export earnings impeded rice exports, hurting exporters financially. The El Nino weather condition also hampered rice export, the chairperson of the Myanmar Rice Federation affirmed.
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.
Myanmar bagged over $809.135 million from approximately 2.164 million tonnes of rice export in the 2021-2022 FY (April-March). — NN/EM
