Myanmar exports 88,500 tons of rice to China under agreement

Myanmar exports 88,500 tons of rice to China under agreement
A rice whole sale center
A rice whole sale center
Published 18 September 2019
Nilar

Myanmar is exported 88,500 out of 100,000 tons of rice to China in line with an agreement with the COFCO and the rest will be exported in coming December, according to Myanmar Rice Federation (MRF).

The MRF had an agreement with China National Cereals, Oils and Foodstuffs Corporation (COFCO) from China to export 100,000 tons of rice to China in 2019 and they will try to sign a new MoU with the COFCO to export more tons of rice to China for next FY, according to the MRF.

Myanmar earned over US$650 million from more than 2.16 million tons of rice and broken rice in 11 months in this FY and it is less than over 780,000 tons of rice and broken rice exported in the same period in last year. Myanmar earned US$1.003 billion in the same period in last FY, said an official from Ministry of Commerce.

Myanmar is exporting rice through maritime trade to EU and Africa markets and to China via Muse border trade route.

Myanmar found new markets for its rice export in 2017-18 FY and about 3.6 million tons of rice are exported which broke the record in 50 years time.

The rice export is declined in this FY as rice demand from EU and China is reduced.