Rice exports to break record

Muse border trade centre (Photo-EMG)

Myanmar has exported over 1 million tonnes of rice during five months this year and expects to export up to 2 million tonnes during the whole year, according to the Myanmar Rice Federation (MRF).“We are expecting to export about 2 million tonnes of rice in this year. It will break the record in a decade,” said MRF vice chairman Dr Soe Tun.

Bangladesh signed a governmental agreement on September 7 to buy 300,000 tonnes of rice.

“We shipped 3,000 tonnes of rice from Pathein to Bangladesh under the previous government. In the mean time, private exporters sold a few tonnes to Bangladesh. This is the first agreement under the current government. We have no agreements with other countries yet,” he said.

Myanmar exported a record 1.8 million tonnes of rice in the 2014-15 financial year.

More than 1 million tonnes of rice and broken rice were exported this fiscal year until the first week of August, 620,000 tonnes more than the same period last year.

Although rice is sold to over 50 countries, more than 70 per cent of exports go to China with most going overland, according to the Ministry of Commerce.