Myanmar expects to export 2.5 million tons of rice this year

Writer: 
EMG

Myanmar Rice Federation (MRF) expects to export 2.5 million tons of rice this year, said Ye Min Aung, general secretary of MRF.

"Our federation hopes that Myanmar will be able to export about 2.5 million tons of rice this year. But we have to wait for weather conditions," he said.

He also promised long-term loans for local farmers, rice mill owners and exporters through deals with local and foreign banks.

From April 1 to June 8 this year, US$181.12 million was earned from exporting 528,400 tons of rice. Of the total, 278,000 tons was exported through border route and 294,800 tons through maritime route.

MRF said that up to the first two months of this year, rice and broken rice were exported to 50 countries.

Thanks to the extended global market, Myanmar was able to export nearly 3.6 million tons of rice in the previous 2017-2018 fiscal year, reaching record high in more than 50 years.

According MRF, it is also targeted to export 4 million tons of rice in 2020-2021 FY with earnings of US$1.5 billion.