Myanmar exports over 1 mln tons of rice worth $300 mln as of 17 Jan

LOCAL NEWS

The volume of rice and broken rice exported between 1 October and 17 January in the current financial year is estimated at over 1.04 million metric tons, worth $300.36 million, according to an announcement from the Myanmar Rice Federation (MRF).
In the current financial year, Myanmar has shipped rice to 56 foreign markets. China is the main buyer of Myanmar rice, followed by Madagascar and the Philippines. Guinea is the fourth-largest and Mozambique the fifth-largest buyer of Myanmar rice. The European Union countries account for 12.4 per cent of rice exports, while 39 per cent of rice grown in Myanmar goes to African countries.
Meanwhile, Myanmar has exported broken rice mostly to Indonesia, followed by Senegal, Belgium, Guinea, and the Netherlands. Broken rice has been placed in 45 foreign markets.
In the current financial year, border trade has dropped, and currently, it accounts for just 14.4 per cent of the total rice exports, while maritime trade constitutes 85.59 per cent.
Rice exports through the border gates have earned an estimated $39.6 million, whereas maritime trade has generated an income of $260.7 million, data from the Commerce Ministry shows.
Additionally, the prices of low-quality rice varieties Ngasein and Aemahta are rising in the market. The prices increased by K10,000 per 100 baskets during the week ended 17 January. Similarly, the price of quality rice varieties Myaungmya Pawsan and Shwebo Pawsan was up K30,000 per 100 baskets, according to the local market.
Myanmar shipped 3.6 million tons of rice in the 2017-2018 fiscal year, which was an all-time record in rice exports. The export volume plunged to 2.29 million metric tons, worth $691 million, in the 2018-2019FY. —GNLM (Translated by Ei Myat Mon)

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