Myanmar expects to earn US$1 billion on exports of 200,000 tonnes of rice to European Union countries during the 2015-16 fiscal year, according to Ye Min Aubg, the secretary of the Myanmar Rice and Paddy Federation.
“We want to earn US$1 billion because at this moment we are getting between $6 million and to $7 million from the rice and paddy sector. Fewer exports than imports causes instability in the currency exchange rate. So we need to promote the export sector. Promoting the rice and paddy sector will benefit both farmers and merchants. And we will control the quality of the rice we sell. If we export low-quality rice, we won’t get paid enough. But if we export good-quality rice, not only will we get paid a good price, but also will not have to export as many tonnes of rice,” said Ye Min Aung.
He added that the rice export sector was officially promoted in 2010.
In previous years, Myanmar has exported rice to EU countries such as Belgium, Denmark and Poland.
Myanmar exported 1.4 million tonnes of rice in the 2012-13 fiscal year, 1.3 million tonnes in 2013-14 and 1.8 million tonnes of rice in 2014-15.
Source: Eleven Media