Sea trade accounts for over 84 per cent of rice exports in current fiscal million as of 15 November in the current financial year, as per data from the Commerce Ministry. Earlier, border trade was relatively high compared to sea trade in terms of rice exports.
Since the previous financial year, border trade has dropped, and currently, it accounts for just 15.24 per cent of the total rice exports. Rice exports through the border gates have generated an estimated $17.76 million in the current financial year.
The volume of rice and broken rice exported between 1 October and 15 November in the 2019-2020 financial year has been estimated at over 436,685 metric tons, worth $126.4 million, according to an announcement from the Myanmar Rice Federation.
In the current financial year, Myanmar has shipped rice to 37 foreign markets. China, which accounts for over 42.88 per cent of the total rice exports, is the main buyer of Myanmar rice, followed by Madagascar and Cameroon. Malaysia is the fourth-largest buyer and Mozambique the fifth-largest buyer of Myanmar rice. The European Union countries account for over 10 per cent of rice exports, while 38.8 per cent of rice grown in Myanmar goes to African countries.
In the current fiscal, Myanmar has exported broken rice mostly to Senegal, followed by Indonesia, Belgium, Mali, and the Netherlands. Broken rice has been placed in 28 foreign markets.
Myanmar primarily exports rice to China through the border gates. However, trade in agricultural products has been halted on account of China clamping down on illegal trade. At present, millers have held up processing rice, bringing down the supply of rice at the Bayintnaung market and Muse gate and cooling prices. —GNLM (Translated by Ei Myat Mon)
