Agro exports surge to $3.88 bln as of 18 June

The agricultural exports spiked to US$3.88 billion over the past eight and a half months of the current financial year 2020-2021, despite the downward trend in other export groups amid the tightened coronavirus containment measures in the border areas and increase in container shipping cost. The figures reflect a significant rise of $923.9 million this FY. The agro exports topped $2.95 billion in the corresponding period of the 2019-2020 FY, according to the trade figures released by the Ministry of Commerce.

The agricultural exports unexpectedly surge regardless of the impact of the coronavirus on foreign demand for other export groups such as fishery, livestock, mineral, forest products, finished industrial goods and other goods. In the exports sector, the agriculture industry performed the best, accounting for 37 per cent of overall exports. The chief items of export in the agricultural sector are rice and broken rice, pulses and beans and maize. Fruits and vegetables, sesame, dried tea leaves, sugar, and other agro products are also shipped to other countries. Myanmar agro products are primarily exported to China, Singapore, Malaysia, the Philippines, Bangladesh, India, Indonesia, and Sri Lanka.

Sometimes, the export market remains uncertain due to unsteady global demand. The country requires specific export plans for each agro product, as they are currently exported to external markets based upon supply and demand. The G to G pact also ensures the strong market for the farmers. Contract farming systems, involvement of region and state agriculture departments, exporters, traders, and some grower groups, are required in order to meet production targets, the Agriculture Department stated. The Commerce Ministry is working to help farmers deal with challenges such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather conditions.

Source: The Global New Light of Myanmar


Trade flows of Chinshwehaw checkpoint suspended for more than two months

The Namh Pha Haw bridge, which connects the Chinshwehaw town, Laukkai Township, northern Shan State has been closed since 18 April. Chin State has announced that they are going to suspend all incoming and outgoing vehicles and people to and from China through Chinshwehaw (Myanmar-China bilateral trade camp) starting from 18 April. The checkpoints were closed after people have been tested positive with COVID-19 in Chinshwehaw, Kunlong and Laukkai townships, major border towns between Myanmar and China.

After the suspension period, some construction-related items and other basic foods loaded small vehiclesentered Myanmar as imported cargos to construct new Kunlong bridge, said an official from Chinshwehaw town. During these days, the COVID-19 infection was under control in Chinshwehaw, more than 400,000 tonnes of sugarcane, an alternative crop to poppy, were allowed to be imported from 10 May to end-May.

The officials are also coordinating for regular shipments of imported vehicles as earlier from Myanmar to China. However, the trade value through Chinshwehaw border checkpoint soared to $387.036 million between 1 October and 16 Aprilin the current financial year 2020-2021 from $313.306 billion recorded in the corresponding period of last FY, the Ministry of Commerce’s data showed. The two countries border trading has improved by $73.730 million. At present, Myanmar carries out border trade with China mainly through Muse, Lwejel, Chinshwehaw, Kampaiti and Kengtung border checkpoints.

Source: The Global New Light of Myanmar

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Sino-Myanmar bilateral trade exceeds $6 bln in H1

The value of Myanmar’s trade with China through maritime and border trade channels amounted to over US$6.13 billion in the first half (Oct-Mar) of the 2020-2021 Financial Year, including $3.18 billion worth of exports and $2.95 billion for import, according to data released by the Ministry of Commerce. Myanmar primarily exports agro products to China through the border gates.

However, trade in agricultural products is frequently halted on account of China clamping down on illegal trade in border gates. Furthermore, China has been stepping up border control measures to contain the spread of the COVID-19 since April-end, hindering the border trade at the present time. In a bid to lower trade barriers and offer relief to Myanmar traders through border trade channel, the Ministry of Commerce, the related departments and the stakeholders have been negotiating with China counterparts.

The two countries are making efforts to set up more border economic cooperation zones and promote border trade. The value of bilateral trade with China stood at $12 billion in the 2019-2020 FY, $11.36 billion in the 2018-2019 FY, $6 billion in the past mini-budget period, $11.78 billion in the 2017-2018 fiscal year and $10.8 billion in the 2016-2017 FY respectively. Rice, various types of peas, sesame seeds, corn, fruits and vegetables, dried tea leaves, fishery products, rubber, minerals and animal products are exported to China, whereas machinery, plastic raw materials, consumer products and electronic tools flow into Myanmar.

Source: The Global New Light of Myanmar