Export earnings from rice and broken rice reached 597.369 million US dollars, down over 350 million US dollars during over 10 months of the current fiscal year, according to an official of Ministry of Commerce.

From October 1 to August 2 of 2018-2019 fiscal year, Myanmar earned 597.369 million US dollars from exports of 1.978 million tons of rice and broken rice.

In the same period last year, Myanmar earned 950.661 million US dollars from exports of 1.801 tons of rice and broken rice.

“This year, the rice and broken rice export volume declined by 822,904.197 million tons and the export earnings, by 353.022 million  US dollars,”  the official said.

Myanmar exports rice to the EU and African markets via sea route and to China via Muse Border trade camp.

Thanks to the market expansion in 2017-18 FY, Myanmar exported nearly 3.6 million tons of rice. It is a record-breaking export within over 50 years.

Now, Myanmar’s rice exports have declined due to low demands from China and the EU.

The private sector alone is unable to deal with the relatively low border trade and a decline in rice export, according to the Myanmar Rice Federation.

“In the past, there were 11 companies which  officially export rice to China. Myanmar has chosen more than 40 rice export companies and can resume its rice export to China after sending the list of these chosen companies to China,” said Deputy Commerce Minister Aung Htoo who replied to the questions raised by the farmers at a meeting between farmers and Myanmar State Counsellor Daw Aung San Suu Kyi, in Danuphyu Township in Ayeyawady Region on June 28.