Myanmar earns $726 mln from nearly 2.4 mln tonnes of rice export

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Myanmar exported nearly 2.4 million tonnes of rice and broken rice in 2019-2020 financial year (FY) from 1 October to 14 August, earning US$726 million, according to an announcement released by the Myanmar Rice Federation (MRF). During the period, over 1.50 million tonnes of rice worth more than $485.5 million were exported to 66 countries while more than 891,830 tonnes of broken rice worth over $240.6 million were exported to 60 countries. This financial year’s rice and broken rice export surpassed that of the last budget year’s figures by 327,683 tonnes when Myanmar exported over 2.06 million tonnes of rice and broken rice in the corresponding period of the previous financial year.
Myanmar exports rice through the land border and via maritime trade. During the period, 84 per cent of total rice export is done through sea route while 16 per cent through border checkpoints. Myanmar’s rice goes to China through the Muse border and to EU and African markets through a maritime trade route.
From 1 October to 14 August, 29 per cent of Myanmar’s rice and broken rice were exported to African countries, followed by China with 28 per cent, EU member states with 20 per cent, ASEAN countries with 18 per cent and other countries with 5 per cent respectively, according to the Myanmar Rice Federation (MRF). The targeted rice export for 2019-2020FY is 2.4 million tonnes, and the peak recorded export was 3.6 million tonnes in 2017-2018FY. —Zin Yaw Aye (Translated by Hay Mar)

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