The export volume of rice and broken rice hit 1.2 million tonnes as of the third week of January.
Over 400,000 tonnes of rice and broken rice worth US$120million were exported through normal trade, whereas about 800,000 tonnes of rice and broken rice worth US$256million were exported via border trade camps, according to the figures of the Commerce Ministry.
Myanmar’s rice market looks promising with possibly new market access. Previously, the market was solely dependent on the China market. Now, Myanmar’s rice market attained more international markets: countries in Asia, Europe, the EU and Africa. In addition, rice and broken rice are proposed to be purchased by Indonesia, the Philippines, Sri Lanka and other countries in the region.
Agricultural products are in second place in the export sector, accounting for 24 per cent of export volume. In the agricultural export sector, about 1.1million tonnes of various peas worth US$1.2 billion, 1.2 million tonnes of rice and broken rice worth about US$380million, about 900,000 tonnes of maize worth about US$185million, over 90,000 tones of sesame worth US$127million and over 100,000 tonnes of rubber worth US$135million were shipped to the foreign countries.
The rice export volume is likely to rise with new markets opening up. The country exported 1.8 million tones of rice in the 2014-2015 fiscal year, whereas 1.4 million tonnes of rice were exported in the 2015-2016 fiscal year. Concerted efforts are being made to effectuate development in all sectors, achieve self-sufficiency and boost the export volume, according to the 12-point economic policy laid down by the government. As a result, the export value as of 27 January this final year was up by US$709.7 million when compared to last year.