Myanmar earns $635 mln from 2.1-mln-tonnes rice export in Q3

EU and African countries are the major markets for Myanmar rice. PHOTO: Phoe Khwar
EU and African countries are the major markets for Myanmar rice. PHOTO: Phoe Khwar

Myanmar has earned over US$635 million from the export of 2.1 million tonnes of rice and broken rice between 1 October and 26 June in this fiscal year, according to the figures released by the Myanmar Rice Federation (MRF).
Myanmar has earned over $430 million from the export of over 1.35 million tonnes of rice to 66 countries and over $204 million from the export of over 770,021 tonnes of broken rice to 57 countries. Myanmar exported 299,839 tonnes of rice and broken rice via border trade routes, generating an income of $84.4 million while Myanmar shipped 1.83 million tonnes of rice and broken rice in this FY, earning $550 million.
Myanmar is exporting rice to EU and African markets via maritime trade and to China through Muse border trade mainly.
Myanmar exported 444,359 tonnes of rice and 116,851 tonnes of broken rice to China, which is 26.35 per cent of total rice and broken rice
export. Myanmar has set a target to export 2.5 million tonnes of rice in the present fiscal year which will end on 30 September 2020. The 2018-2019FY saw the country exported over 2.35 million tonnes of rice and broken rice with revenue amounting to over $709.6 million.
“Myanmar exported 3.58 million tonnes of rice which is all-time highest record of rice in the 2017-2018FY. However, the export amount of rice to foreign countries declined after China suspended the import of rice from Myanmar. I think it would be difficult to surpass the old record of rice export to foreign countries,” MRF Deputy Chief Executive Officer U Myint Lwin stated.—Aye Cho (Translated by Hay Mar)

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