Myanmar will export over two million tonnes of rice and broken rice during the six-month mini budget, said Ye Min Aung, General-Secretary of Myanmar Rice Federation (MRF).
“Rice export may decline this year. But we need to monitor it. Floods destroyed about 400,000 acres of monsoon paddy this year. It is not a paddy harvest season,” he added.
From April 1 to August 17 this year, Myanmar earned US$ 315.283 million from exports of more than 909,376 tonnes of rice and broken rice.
Compared with the same period last year, Myanmar exported more than one million tonnes of rice and broken rice worth nearly US$ 300 million. This year, rice export dropped by 115,073 tonnes, but export earnings increased by more than US$ 15 million, according to the MRF.
Thanks to the market expansion in 2017-2018 FY, nearly 3.6 million tonnes of rice were exported, reaching the record high in over 50 years.