Myanmar rice export down by US$ 30 mln in seven months of this FY

Myanmar has exported over 1.28 million tonnes of rice and broken rice as of 7 May this financial year (2020-2021), generating US$490.45 million, stated the Ministry of Commerce.
However, Myanmar rice export has dropped by 512,589 tonnes in the seven months of this FY compared to last year. The export value of rice has also declined by $33.92 million this FY.
According to an announcement of the Ministry of Commerce, the volume of rice and broken rice between 1 October and 7 May in the last financial year 2019-2020 reached over 1.79 million tonnes, worth $524.4 million. The country exported over 700,000 tonnes of rice, generating an income of $198.870 million and over 500,000 tonnes of broken rice, earning $191.584 million this FY.
China is the primary buyer of Myanmar rice. The Philippines, Côte d’Ivoire and Cameroon and Guinea are the second, third, fourth and fifth largest buyers of Myanmar rice, respectively.
Countries in the European Union account for over 20 per cent of Myanmar’s rice exports. In comparison, 25 per cent of the rice produced by the nation goes to African countries.
Myanmar mainly exports broken rice to Belgium, followed by Indonesia, China, UK, and the Netherlands.
Last FY, Myanmar exported rice and broken rice to more than 60 countries worldwide. China is the largest buyer of rice from Myanmar. However, demand from the Philippines, Malaysia, Madagascar, Poland, Guinea, Belgium, Senegal, Indonesia, the Netherlands, and the UK has risen through the years.
Around 16 per cent of exports are conducted at the border while the remaining is exported by sea. — ZYA/GNLM