Rice export through sea trade up by $174 mln as of mid-August

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Workers loading the truck with rice sacks at the Botahtaung Jetty in Yangon. Photo: Phoe Khwar

Myanmar’s rice export through sea trade generated an estimated income of US$618.016 million as of 14 August in the current financial year, and the figures reflect an increase of $174.226 million compared with a year-ago period, as per data from Myanmar Rice Federation (MRF). Myanmar’s maritime trade constituted 84 per cent of rice exports. Earlier, border trade was relatively high compared to sea trade in terms of rice exports. Since the previous budget year, border trade has dropped, and currently, it accounts for just 14 per cent of the total rice exports. Rice exports through the borders have generated an estimated $108 million in the current financial year, which plunged from $179.78 million registered in the corresponding period of last year.
The volume of rice and broken rice, which was exported between 1 October and 14 August in the 2019-2020FY, has registered at over 2.39 million metric tons, worth over $726 million, stated MRF announcement. In the current financial year, Myanmar has shipped rice to 66 foreign markets.
China is the leading buyer of Myanmar rice, followed by Malaysia and Madagascar. The Philippines is the fourth-largest buyer and Guinea becomes the fifth-largest buyer of Myanmar rice. Meanwhile, Myanmar has exported broken rice mostly to Belgium, followed by China, Senegal, Indonesia and the Netherlands. Broken rice has been placed in 60 foreign markets.
ASEAN countries constitute 18 per cent of Myanmar’s total rice exports. The European Union countries account for 20 per cent of rice exports, while 29 per cent of total rice exports in Myanmar goes to African countries, followed by China with 28 per cent. Myanmar primarily exports rice to China through the borders. However, trading in agricultural products has been halted on account of China clamping down on illegal trade and China’s precautionary measures to contain the spread of coronavirus. The General Administration of Customs of the People’s Republic of China (GACC) granted licences to 43 Myanmar companies on 10 July 2020 to export the rice to China through a legitimate trade channel. The Ministry of Agriculture, Livestock and Irrigation, the Ministry of Commerce and MRF jointly conducted training related to standard operating procedures for rice export for 108 trainees from 43 companies on 15 August.
According to the work coordination meeting held on 26 June, 100,000 tonnes of rice will be sent to the external market in September. Myanmar shipped 3.6 million tonnes of rice in the 2017-2018 financial year, which was an all-time record in rice exports. The export volume plunged to 2.29 million tonnes, worth $691 million, in the 2018-2019FY.—GNLM  (Translated by Ei Myat Mon)

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