21 Dec
Myanmar earned nearly US$200 million from export of 690,000 tons of rice and broken rice in two months (from 1 October to 6 December) of this fiscal year, said an official from the Ministry of Commerce.
“Myanmar exported 690,000 tons of rice and broken rice, an increase of around 330,000 tons compared to the same period of last year. Last year, only 360,000 tons of rice and broken rice were exported. Myanmar earned $199 million this year, up over $80 million from export of rice and broken rice. Last year, Myanmar earned $116 million from rice and broken rice exports,” said an official.
In the 2018-2019FY, Myanmar earned $709.693 million from exports of 2.355 million tons of rice and broken rice, according to the MRF.
In the 2017-2018FY, Myanmar’s rice and broken rice exports hit a record high in nearly 50 years of almost 3.6 million tons.
The main challenges in the rice industry are scarcity of pedigree seeds, high input costs, high production costs, lack of proper technology, high transaction costs, and logistics problems, said an expert.
Rice is the chief export item among the country’s agricultural products exported. Seventy five per cent of the production is for domestic consumption while the remaining is exported. —Aye Cho (Translated by Hay Mar)
