To facilitate rice exports to China, the China Certification & Inspection Group (CCIC) will open an office in Yangon.
The Myanmar Rice Federation (MRF) will send a list of 10 rice exporting companies and other documents to China. The CCIC will hold talks between the Myanmar government, COFCO Group and the companies that signed the memorandum of understand with the MRF over rice trading.
“Tasks for starting rice exports are currently on our plate. A meeting will be held this month. We will assist in opening the CCIC office, too,” said Ye Min Aung, general secretary of MRF.
At the invitation of China early this month, delegations from MRF, the Rice Millers’ Association, Myanmar Rice & Paddy Traders Association, the Agriculture and Irrigation Ministry and the Commerce.
Ministry talked with their Chinese counterparts about rice trading agreements proposed in 2014 and finalised the deal.Negotiations between the Myanmar Agriculture and Irrigation Ministry and China’s Administration of Quality Supervision, Inspection and Quarantine have also taken place.
Myanmar is thriving to export its world-class quality rice to China. Current exports are of mediocre quality. World Bank studies claimed the price of rice in Myanmar is the most unstable among Southeast Asian rice exporting nations.
The studies explained the 40-per cent hike in Myanmar rice prices as the result of weak market structures, poor accessibility of information, limited product variety and costly storage charges.
In the 2013-14 fiscal year, Myanmar’s exports of 1.1 million tonnes of rice earned US$400 million; in 2014-15, Myanmar is expected to reap $500 million from 1.5 million tonnes in rice exports.
Source: ELEVEN MYANMAR