The value of Myanmar’s rice and broken rice exports between 1 April and 30 November has been estimated at US$495.57 million, a decline of $174.3 million from the same period last year, according to the Myanmar Rice Federation (MRF).
During the same period last year, exports of rice and broken rice stood at $669.9 million. Over the last 8 months, the volume of exports has also plummeted to 1.45 million metric tons from 2.18 million metric tons last year.
In the last 8 months, Myanmar has shipped rice worth $413.6 million to 46 countries, with export volume of over 1 million metric tons. The country has exported over 272,700 metric tons of broken rice to 21 countries, earning $81.9 million.
When it comes to rice, border trade remains relatively high compared to sea trade, accounting for 53.6 per cent of the total export. Rice exports through border checkpoints fetched an estimated $270.5 million, a decrease of $62.96 million from last year.
Meanwhile, maritime exports generated an income of $225 million, plunging sharply by $110 million compared with last year.
The fall in border trade has been attributed to China’s tight confiscation of some agro products, including rice, since the second week of October.
The weather condition in the last rainy season and falling prices in the global market have contributed to the drop in maritime trade, a trader said.
In the 2017-2018 fiscal year, Myanmar exported 3.6 million tons of rice and broken rice, worth $1.13 billion.
The MRF did not reach its export target of 2 million tons during the last mini-budget period (April to September).
(Translated by Ei Myat Mon)