Agricultural export value sees slight decline in April

The value of agricultural exports shrank to US$325.6 million in April in the current financial year 2022-
2023, indicating a small decrease of $11.9 million as against the year ago period. The figures topped $337.58 million in the corresponding period last year. Cross-border restrictions between Myanmar and major top customer country China resulted in a sharp drop of agricultural export group in the mini-budget period (Oct 2021- Mar 2022), according to the statistics released by the Customs Department.

Following the closure of Sino-Myanmar border posts triggered by COVID-19 impacts and changes in China’s Customs regulations, the export saw a drastic drop in agriculture. China shut down all the checkpoints linking to Muse border amidst the COVID-19 pandemic. Of the checkpoints, Kyinsankyawt has resumed trading activity from 26 November on a trial run.

Myanmar agricultural products are primarily exported to China, Singapore, Malaysia, the Philippines, Bangladesh, India, Indonesia, and Sri Lanka. The country requires specific export plans for each agricultural 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 regional 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 endeavoring to help farmers deal with challenges such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather conditions. The agricultural exports were valued at $2.4 billion in the past mini-budget period.

Source: The Global New Light of Myanmar