Sri Lanka signs rice deal

Writer: 
Nilar
Workers loading rice on a ship at Pakokku jetty. (Photo-Thet Htein Win)

Myanmar plans to export 0.2 million tonnes of parboiled rice and 0.3 million tonnes of white rice to Sri Lanka under a memorandum of understanding this year, according to Myanmar Rice Federation (MRF).

The National Food Authority of the Philippines has invited a bid for the contract to buy about 50,000 tonnes of rice, according to the Commerce Ministry.

Khin Maung Lwin, the assistant permanent secretary at the Commerce Ministry, said: “The Philippines has proposed the lowest price. We will win the tender if the price is fair. The Myanmar Rice Federation has already discussed with rice exporters on tender conditions and the loading of rice.”

The MRF has sent tender prices to Manila. Myanmar can send 50,000 tonnes of rice to the Philippines in October and November if it wins the tender.

Currently, Myanmar is exporting rice to Africa, the EU and within Asean.

Thanks to the expansion of new rice markets, it exported nearly 700,000 tonnes of rice and broken rice until the end of June this fiscal year.

Until July this financial year, the sector earned US$160 million from the export of 522,440 million tonnes of rice. The same period last year, the sector generated more than US$71 million from the export of more than 200,000 tonnes of rice, according to the Commerce Ministry.