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Rice export declines within eight months

Myanmar only exported over 1.5 million tons of rice and broken rice within eight months from April 1 till December 14, according to Myanmar Rice Federation (MRF).

Myanmar earned about US$288 million from more than 800,000 tons of rice and broken rice export through border trade routes and over US$240 million from over 700,000 tons of rice and broken rice export via maritime trade, it said.

The MRF expected to export up to two million tons of rice and broken rice in mini budget period, said Ye Min Aung, General Secretary of the MRF during a ceremony to sign MoU between the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and International Finance Corporation (IFC).

Myanmar is exporting rice and broken rice with ships and China via Muse 105 mile border trade center.

Myanmar expanded its rice export to new markets in 2017-18 FY and about 3.6 million tons of rice was exported. It broke the record for over 50 years.

European Union (EU) is planning to withdraw generalized scheme of preferences (GSP) for three years for rice export from Myanmar, according to the MRF.

The EU is planning to collect €175 per ton of long grain rice in 2019, €150 per ton of long grain rice in 2020 and €125 per ton of long grain rice in 2021 as import tax.

Myanmar is exporting rice to EU member countries and African countries via maritime trade routes and China to Muse 105 mile border trade route.

SOURCE: ELEVEN MYANMAR

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