As Indonesia, the Philippines, Malaysia and European countries have offered to purchase large quantities of rice, Myanmar is carefully planning rice exports, considering the domestic rice balance, according to Myanmar Rice Federation.

“Those countries are willing to buy our rice in many tons. After considering the condition of our capacity and measures to stabilize the domestic market, the federation is working together with the Ministry of Commerce to make arrangements for exports," said U Ye Min Aung, president of the MRF.

From November this year until next April is the export season, so more rice and broken rice are estimated to be exported during the period. By the end of this fiscal year, about two million tons of rice and broken rice can be exported, according to the MRF.

"We are working to export two million tons of rice this year," U Ye Min Aung said.

According to initial estimates for the current 2023-2024 fiscal year, 2.5 million tons of rice and broken rice are expected to be exported, but in the seven months of the fiscal year, only 583,683 tons of rice and broken rice were exported, earning only US$271 million.

In the last seven months, monthly exports of rice and broken rice were 87,648 tons in April, 110,706 tons in May, 62,725 tons in June, 58,334 tons in July, 59,971 tons in August, 84,773 tons in September and 119,526 tons in October totalling 583,683 tons.

In the fiscal year 2022-2023, over 2.26 million tons of Myanmar rice were exported, earning $853.472 million, according to the MRF. Compared to the same period of the year before, more than 4,300 tons of rice were short cut, but the value was $44.323 million more.

From October to the end of September of the 2020-2021 fiscal year, rice and broken rice exports from Myanmar earned $700.13 million, according to the Ministry of Commerce.

Myanmar produces up to 14 million tons of rice every year, while only around 11 million tons of rice is used for domestic consumption, and only around 2.5 million tons of rice is exported every year.