MANDALAY- Mandalay Rice Development Company signed a new MoU aiming to export 50,000 tons of rice to China, according to the Mandalay Rice Development Company.
The Mandalay Rice Development Company had an agreement with Shwe Charnt Company from China to export 100,000 tons of rice to China in 2019.
However, the company will be exporting the rice to China via the new Chin Shwe Haw road.
In the past, rice exports to China mainly go from Muse Road.
“There have been two companies namely Mandalay Rice Development Company and Muse Rice Development Company. The two companies were exporting rice to China via Muse road. We are now concentrating on border trade. We had signed MoU with the company exporting 100,000 tons of rice. However, we already exported 5,000 tons of rice out of 100,000 because we faced many difficulties. The first difficulty is the company that signed MoU with us wasn’t rice traders and they didn’t understand the rice dealings. However, we were getting much more familiar with the rice dealings. It is inconvenient. So, we would like to urge the government to connect the rice dealing company with us. Now, we sing a new contract with the rice dealing company exporting 50,000 tons of rice. But, we are going to export the rice to China via new route Chin Shwe Haw road. We are trying to export the rice to China in the coming week,” said Managing Director Sai Kyaw from Mandalay Rice Development Company.
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 the Ministry of Commerce.
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.
Myanmar is exporting rice through maritime trade to EU and Africa markets and to China via Muse border trade route.
