Myanmar plans to export 80,000 tons of rice to Malaysia

Workers carrying sacks of rice at the Botahtaung Jetty in Yangon. Photo : Phoe Khwar
Workers carrying sacks of rice at the Botahtaung Jetty in Yangon. Photo : Phoe Khwar

Myanmar is planning to export 80,000 tons of rice to Malaysia in two months, according to the Myanmar Rice Federation (MRF).
Malaysia, which was importing rice mainly from Thailand and Vietnam earlier, plans to purchase it from Myanmar this year.
The price of Myanmar rice has seen a slight rise in international markets on account of Thailand and Vietnam exporting the rice to countries other than Malaysia. The price of rice has also increased by over K1,000 per bag in the local market.
Currently, broken rice is priced at K22,000 per bag, while 25-mark rice is selling for K18,500 per bag in the local market.
In the current financial year, Myanmar has exported 900,000 tons of rice. Up to 6 December, nearly 700,000 tons of rice had been exported by the country, an increase of 330,000 tons against the same period in the previous fiscal, according to statistics from the Ministry of Commerce.
Myanmar has set an export target of 2.5 million tons for rice this fiscal year. As of 13 December, 770,000 tons of rice had been exported, generating an income of US$220 million. Of the total rice exported by the country, 100,000 tons was exported by land and 650,000 tons by sea, according to the MRF.
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 in the 2018-2019FY to 2.29 million metric tons, worth $691 million.—Aye Maung (Translated by Hay Mar)

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