Myanmar ships over 550,000 MT of rice in April-June

Export rice bags are seen being loaded onto one overseas-going vessel at Yangon Port.

Myanmar delivered over 550,547 metric tons of rice and broken rice in the past three months this year (April-June), according to Myanmar Rice Federation (MRF).
In the past three months, around 38 exporter companies delivered over 516,954 MT of rice to foreign trade partners through sea trade, whereas 33,593 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. 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 the Philippines (65,990 MT) and China (54,635 MT).
Additionally, Myanmar primarily conveyed 66,853 MT of broken rice to Belgium, over 66,846 MT to China and 27,500 MT to Spain.
The prices of rice for the export market are rocketing on low supply, according to the Bayintnaung Rice Wholesale Depot.
The prices of low-grade white rice varieties were approximately US$320-360 per MT depending on the different varieties and grades. The export price of Myanmar’s rice was relatively lower than the rates of Thailand and Viet Nam. Yet, the prices were higher than those of market prices of India and Pakistan, MRF’s data showed.
The export rice prices (low grade) move in the range of K29,000 and K30,000 per 108-pound bag depending on different varieties in the domestic market, according to Bayintnaung Commodity Centre.
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), Myanmar Rice Federation stated.
Myanmar also generated an income of US$700 million from 2 million tonnes of rice exports to foreign countries in the past 2020-2021 financial year. — KK/GNLM

Share this post
Hot News
Hot News