Rice and broken rice were exported more than 2.5 million tonnes

Myanmar is expected to export 2.5 million tonnes of rice and paddy in the 2019-2020 fiscal year, and more than 2.5 million tonnes of rice and paddy were exported more than 20 days before the end of the fiscal year, according to the Myanmar Rice Federation. In the 11 months from October 1 to September 11 of the 2019-2020 fiscal year, 2.531 million tonnes of rice and broken rice were exported, earning $ 774.891 million. During that period, it exported 1.583 million tonnes of rice to 66 countries, earning $ 517.1858 million. It earned $ 257.733 million from exporting about 950,000 tonnes of broken rice to 60 countries.

In the current fiscal year 2019-2020, up to 2.5 million tonnes of rice and broken rice can be exported. The 2019-2020 fiscal year will end at the end of September, just days before the end of the fiscal year. By the end of the fiscal year, more than 2.5 million tonnes of rice and broken rice had been exported. Myanmar exports both rice and broken rice through both seaborne and cross-border trade. In the first 11 months of the current fiscal year, seaborne trade accounted for more than two million tonnes of rice and broken rice, accounting for 84% of total exports. Over 400,000 tonnes of rice and broken rice were exported from border trade points, earning more than $ 120 million, accounting for 16 percent of total exports. Of the 66 rice exporters, China is the largest exporter of more than 540,000 tonnes. Of the 60 countries that exported broken rice, Belgium was the largest exporter, with more than 240,000 tonnes.

According to the annual acreage and yield of paddy in Myanmar, in the 2014-2015 financial year, 17722355 acres (over 17 million) were planted and 264233319 tons (over 26 million) were produced. In the 2017-2018 financial year, 17930294 acres (over 17 million) of paddy fields were planted and the yield was 25624492 tons (over 25 million), which is the lowest year in the last four years. In the 2018-2019 fiscal year, 17861055 acres (over 17 million) of paddy fields were planted and the yield was 27573589 tons (over 20 million), which is the highest paddy yield period in the five years from the 2014-2015 fiscal year to the 2018-2019 fiscal year.

Source: The Global New Light of Myanmar

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Myanmar’s economic growth has declined to 0.5 percent due to COVID-19

The COVID-19 epidemic has significantly slowed Myanmar’s economic growth to 0.5 percent, with a new wave of regional outbreaks; Long-term impact on the global economy; Domestic financial sector uncertainty; The World Bank’s October East Asia and Pacific Economic Review, released by the World Bank in October 2020, states that risks remain due to the November 2020 election. From Restricted Control to Rehabilitation COVID-19 provides information on epidemic impact in developing countries in the East Asia-Pacific region. Restrictions have three effects: the impact on a country’s economy and the effects of the global economic slowdown.

In some countries, controlling the spread of the virus, the domestic economy may recover. But a region’s economy is heavily dependent on the rest of the world, and global demand is quiet. The region as a whole is projected to grow by 0.9 percent, the lowest rate since 1967, by 2020. The outlook for the region is to maintain a normal recovery by 2021; It is projected to grow 7.9 percent in China and 5.1 percent in other regions, given the return of core businesses and the availability of vaccines. However, the results for the next two years are expected to remain below pre-epidemic estimates. Outbreaks appear to be exacerbated by the pre-epidemic target of 2021 by 2021. Poverty in the region is projected to rise for the first time in 20 years. It is estimated that nearly 38 million people will continue to live in poverty or return to poverty due to epidemics.

In Myanmar, the COVID-19 epidemic slowed economic growth to 0.5 percent in the 2019-2020 fiscal year. This situation is also affecting the recent results of poverty alleviation. The recent slowdown in manufacturing; Investment in the power, energy and digital technologies sectors is expected to pick up as growth picks up. New wave of regional outbreaks; Long-term impact on the global economy; Domestic financial sector uncertainty; The ongoing conflict and the November 2020 election situation will continue to pose challenges. Kovis-19 is not only the poorest of the poor, but also the poorest of the poor. Regions are facing unexpected difficulties and governments are making difficult choices. But there are also clever policy choices that could ease such deals.

Source: Daily Eleven