Myanmar’s rice export to Sri Lanka fetches high prices

Myanmar’s rice export to Sri Lanka is fetching high prices than other countries and the shipment of the rice export is also convenient, said U Than Oo, the secretary of Bayintnaung Rice Wholesale Depot.
Although the freight-on-board (FOB) price of rice exported to other countries is between US$ 340-$350 per tonne, the export price to Sri Lanka various from $440 to $450 per tonne.
“Myanmar’s rice was exported to Sri Lanka last years. It has been successful. It is one of the neighbouring countries. Myanmar can also export the rice to Sri Lank through maritime route,” said U Than Oo.
Besides, the rice export to Sri Lanka is less restrictive compared to the other countries, he added.
“Sri Lanka hasn’t limited the rice quality. The export of Ah Twe and Ahmahtet rice from Myanmar are acceptable. The European counties and China have many restrictions such as AQSIQ and certificates to export Myanmar rice. So, they are a little bit complicated,” said U Than Oo.
Currently, two countries’ governments signed a memorandum of understanding (MOU) on 7 January to export 100,000 tonnes of white rice and 50,000 tonnes of parboiled rice to Sri Lanka in two consecutive years (2022 and 2023).
“This export of rice is yearly led by the MRF. So, the traders and exporters exported the rice to Sri Lanka. Now, it’s time to harvest the summer paddy, said U Than Oo.
At present, there is a less stockpile of monsoon paddy in the rice market and the newly harvested summer paddy will enter the market pretty soon.
About 30,0000 or 40,000 bags of rice and low-quality rice flowed daily into the Bayintnaung Rice Wholesale Depot, one of the main export markets through the maritime route.
From 1 October to 31 January in this financial year, the country exported over 1 million tonnes of rice and low-quality rice. Of which, China is becoming a large net importer of Myanmar rice, according to the Myanmar Rice Federation. — NN/GNLM