Myanmar to ship 100,000 tonnes of rice to Bangladesh under G2G pact for fourth time

Myanmar will export 100,000 tonnes of rice to Bangladesh for the fourth time this year under the Government-to-Government pact, according to the Myanmar Trade Promotion Organization under the Ministry of Commerce.
A virtual meeting for the Myanmar-Bangladesh rice sale contract was held on 19 December 2023 at the Myanmar Trade Promotion Organization’s meeting hall.
Daw Naw Muta Kapaw, director-general of the Myanmar Trade Promotion Organization, delivered an opening remark that Bangladesh’s Directorate General of Food and the Myanmar Rice Federation (MRF) signed the sales contracts as per the Memorandum of Understanding on Rice Trade and Myanmar sent 100,000 tonnes of white rice to Bangladesh each in 2017 for the first time and 2021 for the second time, as per the sales contract.
The MRF stated that Myanmar was able to export 200,000 tonnes of rice to Bangladesh as of 14 March 2023, in line with contract rules.
This virtual meeting focused on the period of shipment and transaction price and rice grading for rice trade for the fourth time between Bangladesh’s Directorate General of Food and the MRF. The two parties reached a sale contract and concluded the meeting successfully.
The MRF aims to reach a rice export target of 2.5 million tonnes for the current financial year 2023-2024, generating earnings of US$1 billion.
MRF’s statistics indicated that Myanmar conveyed nearly 760,000 tonnes of rice and broken rice in the past eight months of the current FY beginning 1 April.
The seaborne rice export hit 695,415 tonnes, while border posts saw 64,258 tonnes of rice exports, totalling 759,673 tonnes.
Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the past 2022-2023 FY (April 2022-March 2023), estimated at $853.472 million.
Myanmar pocketed over $809.135 million from approximately 2.164 million tonnes of rice export in the 2021-2022 FY (April 2021-Mar 2022). — NN/EM