Four Countries Plan Agribusiness Partnerships With Myanmar

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China, Singapore, Brunei and Japan are looking to coop-erate with Myanmar in ag-ribusinesses in the country and have proposed a profit and loss sharing system in cooperation with local farmers, official media re-ported last week.

Myanmar would need a new law to govern the im-plementation of the system, according to the Myanmar Rice Federation (MRF).

Under the system, for-eign companies would purchase the rice at the prevailing market rate dur-ing harvest season and give support for pedigree paddy seeds, fertilizer, pesticides, agricultural equipment and modern techniques.

Myanmar’s total rice ex-ports in the first half of this fiscal year reached 401,367 tons valued at $145.158 million.

Pakistan has proposed buying Myanmar’s rice un-der a government-to-gov-ernment system. Pakistan is also Myan-mar’s next targeted rice ex-porting country as part of its efforts to boost crop exports.

Myanmar’s rice market is competing with countries such as Thailand, Vietnam, Cambodia, India despite a lack of technology and modern agricultural infra-structure.

About 80 percent of My-anmar’s rice exports go to China, mostly through bor-der trade.Myanmar export-ed 767,753 tons of rice in the last fiscal year.

 

Source: Myanmar Business Today

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