Myanmar’s rice trading expected to increase in coming fiscal year

Myanmar entrepreneurs to export rice through maritime route as market promotion.
Myanmar entrepreneurs to export rice through maritime route as market promotion.

Myanmar will expand exporting of rice to markets in the European Union, Japan and Africa in addition to China in the coming fiscal year, according to the Myanmar Rice Federation.
The Myanmar Rice Federation released a statement saying that as China is the largest rice market of Myanmar, nine public companies have been chosen to have permits to export rice. However, these companies will start exportation in late April, chief executive officer U Nay Lin Zin of the federation told reporters.
The chosen companies are: Myanmar Agricultural Economy Public Corporation, FPR Company of Myanmar Rice Merchants Association, Myanmar Rice Mill of Myanmar Rice Millers’ Association, Golden Land East Asia of Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, Bayintnaung brokers, Mandalay rice dealers, companies formed with Muse rice dealers, Ayeya Pathein Company and Rakhine Rice Company.
“While trying to get permission to export rice to China, Myanmar companies send rice to the markets in EU, Japan and Africa. Thanks to efforts of the government in giving more priority to development of small- and medium-scale enterprises, local entrepreneurs can manage manufacturing of high-quality products. At present, the federation is seeking market promotion so as to increase the export of rice from 1.5 million tons to about 2.5 million tons,” the CEO said.
China Certification & Inspection Group will come to Myanmar for checking the quality of products to be imported to China’s market by the end of January.
“After checking quality of products and whether they are pest free, officials of both countries will allow the export of rice by the chosen companies. China officially ordered 2 million tons of rice from Myanmar for the first batch. So, quality inspection of products will be launched at the end of January,” joint secretary Dr Soe Tun of Myanmar Rice Federation told media.
Myanmar entrepreneurs are trying to expand the export of parboiled rice. They exported 914,969 tonnes of rice worth US$343 million in 2014. Of that, they earned US$274 million from rice exported to China and US$70 million from the export of products along maritime routes, according to the statistics released by Ministry of Commerce.

Share this post

Comments

Hot News
Hot News