Myanmar’s rice exports surge to US$208 mln in H1 this FY for global markets

The value of Myanmar’s rice and broken rice exports amounted to US$208 million from over 460,000 tonnes in the H1 (April-September) of the current financial year 2023-2024, comprising 427,645 tonnes in maritime trade and 36,512 tonnes via land borders, as per the 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 and 84,773 tonnes worth $42 million in September respectively.
The rice export volume recorded the highest in May and dropped in July and August.
MRF aims to achieve 2.5 million tonnes of robust 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 10 per cent growth in the rice export. To increase foreign income, it has been prioritizing the exportation of high-grade rice and bolstering export volume, MRF stated.
Myanmar pocketed over $809.135 million from approximately 2.164 million tonnes of rice export in the 2021-2022 FY (April-March). — NN/EM