Myanmar earned over US$495 million from over 1.4 million tons of rice and broken rice export from April to November in this year, according to Myanmar Rice Federation (MRF).

It is 732,000 tons less compared with the same period last year while export earnings were reduced to over US$174 million in that period.

Myanmar exported US$669 million worth of 2.18 million tons of rice and broken rice in the same period last year.

The rice export broke records in over fifty-year time as Myanmar found new markets for its rice export sector in 2017-18 FY.

Myanmar exported rice through border trade and maritime trade in previous years and more than 70 per cent of total rice export are made via border trade routes.

The rice export amount from maritime trade increased in 2017-18 FY and it was reached to 48 per cent of total rice export.

European Union (EU) is planning to suspend the Generalized Scheme of Preferences (GSP) for three years for rice export from Myanmar in coming years, according to the MRF.

The EU is planning to withdraw the GSP that the 16 mm-long rice imported from Myanmar is mainly grown in the EU member countries - Italy and Spain. It plans to collect taxes on exports of long-grain rice in order to protect the interests of these countries.

Myanmar is exporting rice to the EU and Africa via maritime trade and China via Muse border trade center.