Japanese bank tests kyat currency hedge

Sumitomo Mitsubishi Banking Corporation is testing the use of forward exchange rate contracts in Myanmar, in response to clients eager for a way to hedge against kyat volatility. The Japanese lender is providing a forward contract to one of its Japanese clients, an official at the SMBC’s Yangon offices told The Myanmar Times. He said […]

Myanmar to allow exports and imports of gold

NEW DELHI (Scrap Monster): According to Than Htun Aung, Myanmar’s Deputy Minister for the Ministry of Mines, the country will introduce a new mining law that will allow exports and imports of gold . The meeting of representatives held at the Union parliament session has recommended making the precious metals import and export legal under […]

Golden push for local market plans

The Myanmar Gold Entrepreneurs Association is pushing for a solution to the fractured local gold selling market through the introduction of a central exchange with strong rules. The market’s aim is to standardise criteria for quality and pricing in line with international standards, while bringing all trading to one place, said association secretary U Kyaw […]

Myanmar gold price soars in August

Domestic gold prices have risen by up to K50,000 over the past three weeks. Buyers clocked that the price of gold in Myanmar was lower than in the international market, due to currency volatility, and rushed to take advantage of the opportunity, said traders. The kyat has depreciated by 24 percent this year versus the […]

Rubber producers optimistic about future despite price freefall

Rubber exports are on pace to double by 2016 even as plunging prices hit the international market, according to experts. Prices for sheet rubber fetched 120 baht (US$3.66) a kilogram in Thailand in 2011, but by last week had dropped to 51 baht a kilogram – the lowest in five years, according to Bangkok’s Rubber […]

Exports face huge hurdles

The problems of a beans and pulses export company last month lay bare the challenges potential exporters must overcome to gain significant international market share. Merchants in Yangon’s Bayinnaung bean market were accused of selling large amounts of beans and pulses to Indian buyers without actually having the product. When bean prices unexpectedly shot up, […]

Growing pains hit Myanmar rice trade

The Myanmar Rice Federation (MRF) has stressed a need for tangible rice policies to keep abreast with industries in neighbouring countries. A longstanding ban on private rice exports was scrapped in 2010 under the former military junta, but the modernisation needs of Myanmar’s agricultural sector remain vast. The world’s largest rice exporter from 1961 to […]

Myanmar to export high-quality rice to Japan

YANGON—Myanmar will export 6,000 tonnes of high-quality rice to Japan for second time in May, according to the Myanmar Agribusiness Public Corporation (MAPCO). “We are now preparing to export 6,000 tons of rice that have already been tender awarded. Japan is going to buy native paddy strains and Myanmar is now test exporting high-quality rice […]

Myanmar’s airlines face challenges as playing field expands and competition intensifies

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Myanmar’s aviation market has huge potential for both local and foreign carriers as the country has recorded some of the highest passenger growth rates in Asia since opening up in 2012. But there are also huge challenges, including infrastructure constraints, over-capacity and unprofitability. […]