Rice exports to foreign trade partners in the first half of this FY hit 1.7 million tons, according to Myanmar Rice Federation.
This figure is similar to that of the same period last year. Sea routes performed better than border trade in the current FY.
Myanmar expects to export 2 million tons of rice in this FY and it is likely to reach its target.
Sixty per cent of Myanmar’s rice exports goes to China. Myanmar’s rice has penetrated 44 foreign markets of countries in Africa, Asia and Europe, including Spain, Germany, Japan, Malaysia, Poland, Portugal, Romania, Singapore and Bangladesh.
Myanmar has already signed a Memorandum of Understanding (MoU) Agreement with Bangladesh to export 300,000 tons of rice to Bangladesh under a government-to-government (G to G) system.
The country is currently endeavouring to export 200,000 tons to China via sea routes.