Myanmar aims to export 2.5 million tons of rice in 2023-2024 FY

Published 8 April 2023

EMG

Myanmar is aiming to export 2.5 million tons of rice and earn US$1 billion in export income in 2023-2024 FY, according to the Myanmar Rice Federation (MRF).

Myanmar exported 2,261,203 tons of rice from April 1 to the end of March in 2022-2023 FY, earning US$853.472 million, according to the MRF.

According to the figures (temporary) from April 1 to March 17 of 2022-2023 FY, Myanmar exported 1,264,260.16 tons of rice worth US$491.209 million and 842,635.160 tons of broken rice worth US$293.115 million, totaling 2,106,895.356 tons of rice and broken rice worth US$784.324 million, announced the Ministry of Commerce.

In the same period last year, Myanmar exported 1,268,570.605 tons of rice worth US$446.886 million and 772,104.980 tons of broken rice worth US$239.042 million, totaling 2,040,675.585 tons of rice and broken rice worth US$685.928 million.

Compared to the same period last year, the export amount of rice was reduced by 4,310.409 tons, but the value was US$44.323 million more.

The export amount of broken rice was increased by 70,530.180 tons but the export value was US$54.073 million more.

In 2021, Myanmar earned US$96.2 million in January, US$45 million in February, US$42.4 million in March, US$47.5 million in April, US$72.8 million in May, US$74.7 million in June, US$18 million in July, US$18.8 million in August, US$38.2 million in September, US$56.2 million in October, US$72.2 million in November and US$105.1 million in December, totaling US$687.2 million from the export of rice and broken rice.

In the 2019-2020 FY, the export of rice was decreased, but as the export of broken rice increased, the income was US$84 million more than the same period of the previous year.

Myanmar has been increasing the export of rice and broken rice by an average of 10 percent every year. In addition to the increase in tonnage, more high-quality rice varieties are being exported to increase income, according to the MRF.

According to the Ministry of Commerce, US$700.13 million was earned from the export of rice and broken rice from October to the end of September in the 2020-2021 FY.