Rice export earnings hit over $ 227 million

Writer: 
Sithu Aung

 

Until July 27 of 2018-2019 fiscal year, the country earned US$ 277.775 million from exports of 802212.57 tonnes of rice and broken rice, according to the Commerce Ministry.

During four months of the minibudget period, the country exported over 358170 tonnes of rice and broken rice via marine route and over 444,014 tonnes via border routes.

The country exported 1.423 million tonnes of rice and broken rice worth US$ 551 million in 2012-2013 FY, 1.262 million tonnes worth US$ 475 million in 2013-2014 FY, 1.840 million tonnes worth US$ 660 million in 2014-2015 FY, 1.493 million tonnes worth US$ 526 million in 2015-2016 FY, 1.750 million tonnes worth US$ 553 million in 2016-2017 FY and 3.576 million tonnes worth over US$ 1,136 million in 2017-2018 FY.

The volume of rice export via border trade exceeds sea route exports. Rice exports via border trade accounted for 60 per cent in 2012-2013, 72 per cent in 2013-2014, 77 per cent in 2014-2015, 82 per cent in 2015-2016 and 72 per cent in 2016-2017.

Rice export is expected to hit up to four million tonnes of rice worth US$ 1.5 billion during three years, according to Myanmar Rice Federation.