Myanmar rice aimed for Bangladesh market under G-to-G pact

Bangladesh has proposed to purchase Myanmar’s rice on account of good quality under the government-to-government agreement this year, according to the Myanmar Trade Promotion Organization.
Bangladesh’s Ministry of Food bought Myanmar’s rice last year and good quality appealed to them to buy it again this year. Bangladesh will sign rice deals by setting prices depending on the grain quality.
“Bangladesh is expected to make a contract again this year. If they send the government contract proposal through diplomatic channels, we will engage in the bilateral negotiation to reach the agreement,” Naw Mutakapaw, Director-General of the Myanmar Trade Promotion Organization.
To negotiate the price depending on global rice prices, Myanmar’s rice market and foreign exchange rate and monetary policies, and sign a sale and purchase rice contract between Myanmar and Bangladesh, officials of the Myanmar Rice Federation have planned to go to Bangladesh in mid-September.
The coordination meeting for signing the sale and purchase rice contract between Myanmar and Bangladesh was held virtually in the third week of August, with the presence of officials from the Myanmar Trade Promotion Organization, Bangladesh’s Ministry of Food and the Myanmar Rice Federation.
Following India’s ban on rice export, the global rice prices are soaring. Thus, Asian countries are eyeing Myanmar’s rice and the Indonesian National Logistic Agency Bulog is also observing to buy Myanmar’s rice. — ASH/EM