Myanmar rice exports exceed 2.58 mln tonnes in FY2019-2020

Workers carrying sacks of rice 0
Workers carrying sacks of rice at the Botahtaung Jetty in Yangon. Photo : Phoe Khwar

The volume of rice and broken rice exported between 1 October and 30 September in the last financial year 2019-2020 reached over 2.58 million metric tons, worth US$794 million, according to an announcement from the Myanmar Rice Federation (MRF).
MRF expected to ship 2.4 million tonnes of rice and broken rice in the last FY and the country surpassed the export target, sending over 426,611 metric tons to neighbouring countries through border trade and over 2.15 million tonnes of rice and broken to foreign trade partners via maritime trade, totalling over 2.58 million tonnes. A surge in rice shipping through sea trade was contributed to meeting year’s export target, MRF stated.
Myanmar’s maritime trade, which constituted 84 per cent of rice exports, generated an estimated income of $668.49 million, as per data from Myanmar Rice Federation (MRF). Earlier, border trade was relatively high compared to sea trade in terms of rice exports. Since the previous financial year 2018-2019, border trade has dropped, and currently, it accounts for just 16 per cent of the total rice exports. Rice exports through the land border have generated an estimated income of $125.898 million in the FY2019-2020.
“Illegal trade is highly witnessed between Myanmar and China border areas in the previous years. This year, traders sent the goods via legitimate trade route, and trading volume sharply fell,” he added. Myanmar has shipped rice to 66 foreign markets. China is the main buyer of Myanmar rice, followed by the Philippines and Malaysia. Madagascar is the fourth-largest buyer and Poland, the fifth-largest buyer of Myanmar rice. In the last FY, Myanmar has exported broken rice mostly to Belgium, followed by China, Senegal, Indonesia and the Netherlands. Broken rice has been placed in 60 foreign markets.
ASEAN countries constitute 18 per cent of Myanmar’s total rice exports with over 466,882 tonnes. In comparison, 30 per cent of total rice exports in Myanmar goes to China with over 775,884 tonnes, followed by African countries with 27 per cent after exports of around 706,302 tonnes. The European Union countries account for over 20 per cent of rice exports with over 514,523 tonnes while other countries represent five per cent of exports with over 122,786 tonnes. Myanmar targets to export 4 million tonnes of rice and broken rice in the current financial year 2020-2021, said U Aung Than Oo, vice president of Myanmar Rice Federation (MRF). Myanmar shipped 3.6 million tonnes of rice in the FY2017-2018, which was an all-time record in rice exports. The export volume plunged to 2.3 million tonnes, in the FY2018-2019.—GNLM (Translated by Ei Myat Mon)

Share this post


Hot News
Hot News