Myanmar rice export earns $549 mln in eight months

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Freight handlin process is seen at the port for loading bags of rice aboard the vessel.

Myanmar generated US$549 million income from exports of rice and broken rice in the past eight months (Oct-May) of the current financial year 2020-2021, according to Myanmar Customs Department.
The volume of rice and broken rice exported in the past eight months was estimated at over 1.14 million metric tonnes.
Border trade disruption led to sluggish market yet the flat price occurs in the border export market.
The prices of white rice varieties range US$375 to 405 per metric tonne, the price of glutinous rice price reached $600-610 per MT and the broken rice fetched $300-335 per MT depending on the different varieties and quality, according to the Myanmar Rice Federation (MRF).
This year, rice shipment to European countries is declining. However, Myanmar is delivering rice and broken rice to China and Bangladesh. The market cools down now owing to the transport difficulties amid the closure of the border posts. The price is quite stable with the sluggish trade.
Next, high-quality rice is demanded in the domestic market and the price moves in the range of K36,000-K44,600 per bag depending on different varieties. The low-quality rice is priced between K26,000 and K28,800 per bag at the present time. The price indicated a gradual increase.
Furthermore, as per the 2020 rice price data, the price of staple rice usually increases in the rainy season. Consequently, the price gain is seen as the expected during the monsoon season of this year, a trader stated.
The federation conducted the virtual meeting with the committee members in the regions and states, exporters and the companies concerned regarding the rice production and price stability on 14 August 2021. They discussed matters related to the possible production drop in 2021-2022 monsoon season amid the COVID-19 impacts and high input cost and plans for rice donations to those people in need and selling rice at affordable price near the industrial zones.
Myanmar set the rice export target at only two million tonnes in the current FY as summer paddy growing acreage drops, as per MRF. Weather changes affected irrigation water resource availability on agriculture. Consequently, the export figures showed a drop of 300,000 tonnes of rice in exports this year.
Myanmar generated over $800 million from rice exports in the previous FY2019-2020 ended 30 September, with estimated volume of over 2.5 million tonnes.—KH/GNLM

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