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Myanmar ships over 1.639 mln tonnes of rice to external markets in past 9 months

Myanmar conveyed over 1.639 million metric tons of rice and broken rice to foreign trade partners in the past eight months (April-December) of the current financial year 2022-2023, with an estimated income of US$600 million, according to Myanmar Rice Federation (MRF). In the past nine months, more than 42 exporter companies delivered over 1.264 million MT of rice and broken rice to external markets by sea, whereas over 369,162 MT were sent to neighbouring countries via border posts. Myanmar shipped rice and broken rice to regional countries, countries in Africa and European Union member countries through maritime trade.

It is also exported to neighbouring countries, China and Thailand through cross-border posts. China is still the main buyer of Myanmar’s rice in the past nine months, purchasing over 264,000 tonnes of rice and over 237,000 tonnes of broken rice. Myanmar exported rice to over 20 foreign markets in the past months, mostly to China (264,284 MT), followed by Bangladesh, the Philippines and other European countries such as Italy, Spain, Poland, Belgium, the Netherlands and France. Additionally, Myanmar primarily conveyed 278,219 MT of broken rice to China and 230,488 MT to Belgium.

The prices of high-grade rice varieties stood at K60,000-100,000 per bag and K35,500-50,000 per bag for low-grade rice varieties. The export price of Myanmar’s rice was relatively lower than the rates of Thailand and Viet Nam, according to MRF. The federation targeted to ship two million tonnes of rice this financial year. Myanmar has shipped more than 1.4 million tonnes of rice and broken rice to foreign trade partners between 1 October and 31 March in the past mini-budget period (2021-2022), Myanmar Rice Federation stated. Myanmar bagged US$700 million from two million tonnes of rice exports to foreign countries in the past 2020-2021 financial year. 

Source: The Global New Light of Myanmar

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New Sittway Port for Myanmar-India transport project to open soon

The new Sittway Port, a transit transport project of Myanmar and India, will be opened soon, according to the Rakhine State Chambers of Commerce and Industry. The new port is a multi-modal transit transport facility on the Kaladan River connecting Myanmar and India. Currently, the port is ready for the entry and exit of international ships and plans are underway to admit the local vessels.

A total of 2,500 tonnes of quality rice from Rakhine State can be exported via the Sittway Port in early January this year and the Rakhine merchants expect that the port would be operational during this month. The Kaladan Multi-Modal Transit Transport Project includes Sittway Port expansion, dredging for Kaladan River expansion and road construction to link Paletwa of Chin State with Mizoram state of India.

The Indian products will be transported to Paletwa via Sittway passing the Kaladan River by sea and Myanmar products will be exported by truck from Paletwa to Mizoram. The merchants, entrepreneurs and officials of the two countries also discuss establishing a shipping line to run weekly or monthly boat services after the port is inaugurated. The Indian and Myanmar governments signed the Kaladan Multi-Modal Transit Transport Project in 2008 and the operation of the project was started in September. The Indian government invested $484 million in the project.

Source: The Global New Light of Myanmar