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Rice export earnings exceed $250 in three months

During three months of the current fiscal year, Myanmar earned over 250 million US dollars from the exports of around 900,000 tons of rice and broken rice, according to Myanmar Rice Federation.

Till December 27 of 2019-20 FY, Myanmar exported 894,889.703 tons of rice and broken rice worth 256.452 million US dollars.

During this period, Myanmar exported over 600,000 tons of rice worth over 180 million US dollars to 53 countries and around 290,000 tons of broken rice worth over 75 million US dollars, to 45 countries.

Myanmar exports rice to the EU and Africa via sea route and China via Muse border trade.

During three months, Myanmar earned over 34 million US dollars from exports of over 130,000 tons of rice and broken rice via border trade. Border trade accounted for 15 per cent of the total rice export.

Myanmar earned over 220 million US dollars from exports of over 760,000 tons of rice and broken rice via sea route. It made up over 85 per cent of the total rice export.

In 2018-19 FY, Myanmar earned 709.693 million US dollars from exports of 2.355 tons of rice and broken rice, according to the MRF.

In 2017-18 FY, Myanmar’s rice exports reached a record high within over 50 years, with the exports of nearly 3.6 million tons of rice and broken rice.

According to the statement by the MRF on May 18, 2019, the MRF is taking necessary measures to deal with the declining rice price in the summer paddy harvest season and the farmers’ difficulties. It is found that the business is weak due to the difficulties in warehouse, paddy drying and transport.

In the past, only 11 companies exported rice to China. Currently, more than 40 rice export companies have been chosen. They can export rice to China after the list is sent to China.

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Source : Eleven

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