Myanmar earns over $55 million from sesame exports in 8 months of this fiscal year

Myanmar earns over $55 million from sesame exports in 8 months of this fiscal year
Caption: farmers harvesting sesame seeds in Myaing Township seen last year
Caption: farmers harvesting sesame seeds in Myaing Township seen last year
Published 31 March 2024

According to the Ministry of Agriculture, Livestock, and Irrigation, citing data from the Ministry of Commerce, sesame exports yielded just over $55 million during the initial 8 months of the ongoing fiscal year, marking a decline of more than 15 percent compared to the corresponding period in the previous year.

From April 1 to December 1 of fiscal year 2023-2024, a total of 34,463.38 tons of sesame were exported, generating $55.34 million in revenue. In contrast, during the same period in fiscal year 2022-2023, the export of 49,651.69 tons of sesame seeds yielded $65.81 million. A comparison of these identical periods reveals a decrease of 15,188.31 tons in sesame exports and a $10.47 million decline in revenue compared to the previous year. This represents a decrease of 15.91 percent in dollar value.

From April 1 to December 1 of the fiscal year 2023-2024, among the top 11 main imported commodities, Myanmar imported 400,616 tons of palm oil valued at $393.06 million, wheat imports amounted to 27,1987 tons, valued at $107.56 million, while wheat flour imports reached 1,292 tons, with a value of $0.81 million.

Other imported products include 11,277 tons of condensed milk, valued at $15.87 million. Furthermore, imports of evaporated milk of 12,004 tons, with a value of $17.75 million, and milk powder imports reached 7,081 tons, valued at $20.03 million.

According to statistics from the Ministry of Agriculture, Livestock, and Irrigation, a total of 1,136,471 tons of fertilizers were imported between April 1 to December 1, 2023.

During this period, Myanmar earned U.S 16.575 billion dollars, which is 1.084 billion more than the same period last year.

Similarly, the value of imports from foreign countries amounted to $17.349 billion, marking an increase of $2.489 billion compared to the previous year.