Myanmar’s rice exports cross US$462M this FY

The value of Myanmar’s rice and broken rice exports totalled US$462 million from 955,502 tonnes in the past nine months of the current financial year 2023-2024 beginning 1 April, comprising 883,244 tonnes by seaborne trade and 72,258 tonnes at the border, as per Myanmar Rice Federation (MRF).
The export volumes were registered at 87,648 tonnes worth $36 million in April, 110,706 tonnes worth $48 million in May, 62,725 tonnes worth $28 million in June, 58,334 tonnes worth $26 million in July, 59,971 tonnes worth $28 million in August, 84,773 tonnes worth $42 million in September, 119,526 tonnes worth $63 million in October, 175,990 tonnes worth $90 million in November and 195,829 tonnes worth $99 million in December respectively.
This being so, the rice export volume recorded the highest in December, followed by November and October. The figures showed a drop in June, July and August.
The federation aims to achieve 2.5 million tonnes of rice export in the current FY, expecting to bag $1 billion.
Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the past 2022-2023 FY (April-March), with an estimated value of $853.472 million.
Last FY, China was the main buyer of Myanmar’s rice and broken rice with over 775,000 tonnes, followed by Belgium with 323,000 tonnes, Bangladesh with over 239,000 tonnes, and the Philippines with over 202,000 tonnes.
Myanmar has been endeavouring to attain a 10 per cent growth in rice export. To increase foreign income, it has been prioritizing the exportation of high-grade rice and bolstering export volume, MRF stated.
Myanmar earned over $809.135 million from approximately 2.164 million tonnes of rice export in the 2021-2022 FY (April-March). — NN/EM

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