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Myanmar ships $249 mln worth of over 733,000 MT of rice in past 4 months

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Myanmar also generated an income of $700 million from two million tonnes of rice exports to foreign countries in the past 2020-2021 financial year.

Myanmar delivered 733,098 metric tons of rice and broken rice in the past four months this year (April-July), with an estimated income of US$249 million, according to the Myanmar Rice Federation (MRF).
In the past four months, approximately 43 exporter companies delivered over 664,074 MT of rice to foreign trade partners through sea trade, whereas over 69,023 MT were sent to neighbouring countries via border posts.
The export volume in cross-border trade significantly plunged compared to the previous year’s record owing to trade delays triggered by China’s strict border rules. At present, more than 10,000 bags of rice and broken rice are daily conveyed to China through the Muse border post, as per Muse Rice Wholesale Centre.
Myanmar shipped rice and broken rice to China, regional countries, countries in Africa and European Union member countries through maritime trade.
Myanmar exported rice to around 20 foreign markets, mostly to China (92,622 MT) and the Philippines (91,374 MT).
Additionally, Myanmar primarily conveyed 91,603 MT of broken rice to Belgium, over 91,033 MT to China and 37,500 MT to Spain.
The prices of rice for export markets are rocketing on low supply, according to the Bayintnaung Rice Wholesale Depot.
The prices of low-quality white rice varieties were approximately $325-360 per MT depending on the different varieties and quality. The export price of Myanmar’s rice was relatively lower than the rates of Thailand and Viet Nam, according to the MRF.
Myanmar has shipped more than 1.4 million tonnes of rice and broken rice to foreign trade partners between 1 October and 31 March in the past mini-budget period (2021-2022), the Myanmar Rice Federation stated.
Myanmar also generated an income of $700 million from two million tonnes of rice exports to foreign countries in the past 2020-2021 financial year. — KK/GNLM

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