12 June
THE government has reserved about 34,000 tonnes of rice over a month, according to Myanmar Rice Federation (MRF).
The Ministry of Commerce, Myanmar Inspection and Testing Service (MITS), the authorized organization of the State and MRF, implemented the rice reserve scheme on 30 April. The state has purchased over 34,000 tonnes of rice from 123 companies as of 11 June and the rice has been stored at nine warehouses in line with the set rules and regulations.
The exporters must sell 10 per cent of total export volume (25% broken, well-milled and sorted rice), stated in the export declaration as country’s reserved rice.
The reserved rice must be sent to the state’s warehouse. MITS, the authorized organization of the State, is to inspect and verify the quality and quantity.
The Yangon Region government has been receiving the reserved rice proportioned by sea trade, while some percentage of the border export are being stored at the Consumer Affairs Department in Mandalay Region.
The country has a rice reserve scheme for emergency cases beyond self-sufficiency in the domestic market. Myanmar’s rice export has returned to normal in May and it intends to ship over 2 million tonnes of rice in the current financial year, according to the MRF.
The Federation has been negotiating with the government concerning the export depending on the situations of the pandemic and local and foreign markets. Additionally, MRF, its subsidiary organizations and the rice traders, are coordinating to have a much fairer price of rice for the consumers during the coronavirus pandemic.
Moreover, the local market constitutes over 70 per cent of production whereas 20 per cent go to the foreign market. This being so, there is a balance between the domestic market and the export market.
During the pandemic, the Ministry of Commerce and Myanmar Rice Federation (MRF) planned to export 100,000 tonnes of rice through sea trade and 50,000 tonnes through border trade every month.
They are negotiating with ASEAN and the neighbouring countries to sell the rice through government to government (G to G) plan.
By Nyein Nyein (Translated by Hay Mar)
