Myanmar earns US$280mil from rice and broken rice export

  • ASEAN+
  • Tuesday, 28 Jan 2020

NAYPYIDAW (Eleven Media Group/ANN): Myanmar earned over US$280 million from over 980,000 tonnes of rice and broken rice export from Oct 1 to Jan 10 this fiscal year, according to the Myanmar Rice Federation (MRF).

It earned over US$200 million from over 684,000 tonnes of rice export to 55 countries and over US$78 million from over 302,000 tonnes of broken rice export to 46 countries in this period.

Myanmar is exporting rice and broken rice to the EU market and African market via maritime trade routes and China through Muse border trade.

It earned over US$37 million from over 144,000 tonnes of rice and broken rice export from border trade route and it is over 14 per cent of total rice and broken rice export. It earned over US$245 million from over 842,000 tonnes of rice and broken rice export from maritime trade and it is over 85 per cent of total rice and broken rice export.

The MRF announced that Myanmar earned over US$709 million from over two million tonnes of rice and broken rice export in 2018-19 FY.

Myanmar exported about 3.6 million tonnes of rice and broken rice in 2017-18 FY and it broke the record in over 50-year history.

It is dealing with the issues caused by the low market price this year. It said that farmers are facing difficulties not having enough silos, padi drying system and vehicles to carry rice, announced the MRF on May 18.

A total of 11 companies officially exported rice to China previously and now more than 40 companies have joined the list. If the companies’ list is sent to China, the rice export will resume, replied Aung Htoo, Deputy Minister for Commerce to farmers from Danubyu on June 28.

State and regional governments will supervise the buying of padi in accordance with a law to protect the rights of farmers and promote their interests and the state and regional governments need to submit about the union government.

The government is planning to buy padi from Bago, Ayeyawady and Yangon regions using state funds.

If the market price for paddy lowers more than the base price, the government planned Ks15 billion to buy out the paddies, said the deputy minister. - Eleven Media Group/Asia News Network

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