MAPCO fined $1.8m for botched Indonesia rice shipment

A Myanmar delegation is heading to Indonesia this week to negotiate the release of 16,000 tonnes of rice that have been held at the Port of Surabaya for more than two months, and to discuss a US$1.8 million fine imposed on the exporter for its failure to follow regulations. The shipment was sent as part […]

Rice federation draws up emergency plans for imports

The Myanmar Rice Federation is drawing up contingency plans to import rice in response to widespread flooding, officials said. Heavy rains and rising waters in 11 out of Myanmar’s 14 regions and states have raised fears of a shortage of the staple food. The Myanmar Rice Federation had previously announced a temporary ban of exports […]

Rice federation to introduce Warehouse Financing at Apex

The Myanmar Rice Federation plans to open several warehouses for rice traders to store their product for use as collateral to receive bank loans, said its chair U Chit Khaing. The system would alleviate the need to sell rice immediately even if prices are low to pay for a sudden expense. Instead, traders will be […]