Yangon, 22 August
Myanmar exported about 2 million metric tons of rice and broken rice to foreign countries from 1 October 2018 to 2 August 2019, earning US$ 597.639 million, according to a source from the Myanmar Rice Federation.
The Southeast Asian country earned over US$ 490 million from exporting rice to 61 countries and US$ 107.147 million from transporting broken rice to 36 countries. “Myanmar shipped 3.58 million metric tons of rice which is the all-time highest record of rice record in fiscal year 2017-2018. But the export amount of rice to foreign countries declined after China suspended the import of rice from Myanmar. I think it would be difficult to surpass the old record of rice export to foreign countries,” said U Myint Lwin, Deputy Chief Executive Officer of the Myanmar Rice Federation.
Myanmar mainly exports rice to China, the Philippines, Ivory Coast, Cameroon and Madagascar while the country mostly transports broken rice to Belgium, followed by Indonesia, China, the Netherlands and United Kingdom. The country will be able to ship about 2.5 million metric tons of rice and broken rice to foreign markets as foreign demand was declined this financial year, the rice merchants said. “The Philippine government will put a ban on import of rice from foreign countries for three months. We are planning to make a clarification to the regional government how to store rice purchased from farmers when rice harvest season starts and how to export rice to foreign markets,” said U Htin Zaw Hlaing, a rice mill owner from Bago Region.
Myanmar exported 1.8 million metric tons of rice and broken rice in 2014-2015 FY, 1.4 million metric tons of rice and broken rice in 2015-2016 FY, 1.7 million metric tons of rice and broken rice in 2016-2017 and about 3.6 million metric tons of rice and broken rice in 2017-2018 FY, according to the Myanmar Rice Federation.—Thurein Kyaw
Translate by Kyaw Htike Soe