Myanmar needs to consider beyond Yangon port to export over 3 million tons of rice yearly from 2018 to 2020, according to a briefing on a draft report submitted by Myanmar Rice Federation regarding the enactment of a rice law.
The briefing was held at the headquarters of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon on June 23.
The report stresses the need to consider use of Sittwe and Pathein ports in addition to Yangon port.
"In comparison with other regional countries such as Thailand and Vietnam, port expenses are about double. The international community usually buy rice from Myanmar only when they cannot make purchases from the above two countries. They would buy if Myanmar reduces the price of a ton of rice by about US$30," said an official from Myanmar.
According to the report, the port expense for a 20,000-ton vessel is US$6,500 in Thailand, US$6,000 in Vietnam, US$7,500 in India and US$11,000 in Pakistan. Meanwhile, the expense in Myanmar is US$14,500.
Myanmar has set a target to export 4 million tons of rice in 2020-2021 fiscal year with an earning of US$1.5 billion.