Myanmar earns US$120 M from rice and broken rice export within one and a half month

Myanmar earns US$120 M from rice and broken rice export within one and a half month
A rice wholesale center in Bayintnaung (Photo-Zeya Nyein)
A rice wholesale center in Bayintnaung (Photo-Zeya Nyein)
Published 29 November 2019
Zeyar Neyin

Myanmar is earned over US$120 million from over 430,000 tons of rice and broken rice export within one and a half months of this fiscal year and over 80 per cent of the rice is exported through maritime trade, according to Myanmar Rice Federation (MRF).

Myanmar exported over 295,618 tons of rice worth over US$89 million to 37 countries and 141,066 tons of broken rice worth over US$36 million to 28 countries.

Myanmar is trading with EU countries and African market via maritime trade and China through Muse border trade center.

Myanmar earned more than US$108 million from over 370,000 tons of rice and broken rice export via maritime trade in that period. It is over 84 per cent of total rice export in that period.

Myanmar earned more than US$17 million from over 66,000 tons of rice and broken rice export via border trade in that period. It is over 15 per cent of total rice export in that period.

Myanmar earned over US$709 million from 2.355 million tons of rice and broken rice export in 2018-19 FY, according to the MRF.

Myanmar exported about 3.6 million tons of rice and broken rice in 2017-18 FY and it broke the record in 50 years of history.

The MRF is dealing with problems such as the decrease of paddy prices and the difficulties of the farmers. The MRF said they have difficulties to have warehouses to store rice, to dry paddy and to have more vehicles to transport rice.

Moreover rice export is declining and rice dealings in border trade centers are low. It will not be dealt with private sector alone.