Myanmar ships 1.48M tonnes of pulses worth US$1B+ in 11 months

Myanmar exported over 1.48 million tonnes of pulses worth over US$1.256 billion to foreign trade partners in the past 11 months of the current 2023-2024 financial year beginning 1 April, the Ministry of Commerce’s statistics showed.
Myanmar bagged $1.131 billion from pulses exports of over 1.338 million tonnes through maritime route, whereas over 143,119.469 tonnes of pulses worth $124.722 million were sent to the neighbouring countries via land borders between 1 April 2023 and 1 March 2024, totalling $1.256 billion from exports of 1,481,772.586 tonnes.
The value of Myanmar’s pulses exports totalled over US$1.47 billion from over 1.9 million tonnes in the previous FY 2022-2023, the Ministry of Commerce’s statistics indicated.
Myanmar mainly exports black grams, green grams and pigeon peas to foreign markets. Of them, black grams and pigeon peas are primarily shipped to India, while green grams are exported to China and Europe.
India has growing demand and consumption requirements for black grams and pigeon peas. According to a Memorandum of Understanding between Myanmar and India signed on 18 June 2021, India will import 250,000 tonnes of black grams and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022 financial year to 2025-2026 FY. This G-to-G pact will not affect the pulses’ annual quota set by India. Myanmar’s exporters are also entitled to deliver the pulses to India under that yearly quota.
The prevailing market prices are K3.065 million per tonne of black grams (urad) and K3.95 million per tonne of pigeon peas (tur), stated the Yangon Region Chambers of Commerce and Industry.
On 5 February, the prices hit a record high of K3.5 million per tonne of black grams and K4.197 million per tonne of pigeon peas.
Myanmar’s black gram output is estimated at 400,000 tonnes per year, whereas pigeon pea production crosses 50,000 tonnes.
The Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association stated that black grams, which India primarily purchases, are commonly grown only in Myanmar, whereas pigeon peas, green grams and chickpeas are cultivated in African countries and Australia.

Source: The Global New Light of Myanmar

MoI plans to lease its solar & electronic factories to private investors

SOLAR, electrical and electronic equipment and other industrial product manufacturing factories currently owned by No 2 Heavy Industries Enterprise under the Ministry of Industry will be leased to private investors, according to the ministry.

The ministry is planning to invite expressions of interest (EoI) from domestic and foreign private investors for a long-term lease/venture of No 24 Heavy Industry (Dagon) in South Dagon Industrial Zone 1, Yangon Region, which manufactures solar, electrical and electronic equipment and other industrial products. The industry is currently being operated by the ministry’s No 2 Heavy Industries Enterprise.

Domestic and foreign companies that have a desire to invest should apply and receive an expression of interest form from the Administration Department of No 2 Heavy Industries Enterprise by submitting relevant documents, valid company registration, and company credentials at Office No 41 in Nay Pyi Taw starting 11 March and submit them by 3 pm on 8 April. 

Source: The Global New Light of Myanmar

YPS card, QR services available for 90 YBS bus lines

YPS card and QR services have been extended step by step, and now they can be used for 90 bus lines and will be continued for the rest of the bus lines, according to Yangon Payment Services-YPS.
These services are currently available on the following bus lines: YBS (55), YBS (13), YBS(57), YBS (63), YBS (42), YBS (65), YBS (22), YBS (64), YBS (111), YBS (133), YBS (134), YBS (84), YBS(135), YBS (142), YBS (130), YBS (136), YBS (138), YBS (139), YBS (39), YBS (21), YBS (131), YBS (80), YBS (81), YBS (132), YBS (85), YBS (76), YBS (27), YBS(66), YBS(79), YBS (12), YBS (14), YBS (25), YBS (30), YBS (38), YBS (117), YBS (128), YBS (100) and YBS (103).
Further bus lines — YBS (19), YBS (40), YBS (35), YBS (61), YBS (68), YBS (137), YBS (62), YBS(87), YBS (108), YBS (88),YBS (37), YBS (43), YBS (96), YBS (104), YBS (109), YBS (72), YBS (89), YBS (24), YBS (28), YBS (58), YBS (113), YBS (36), YBS (116), YBS (11), YBS (115), YBS (60), YBS (29), YBS (17), YBS (141), YBS (145), YBS (26), YBS (114), YBS (15), YBS (10), YBS (7), YBS (112), YBS (8), YBS (4), YBS (59), YBS (2), YBS (3), YBS (110), YBS (32), YBS (78), YBS (93), YBS (94), YBS (118), YBS (97), YBS (143),YBS (23), YBS (144) and YBS (66) — have also started providing the services.
YPS cards and YPS QR services are available at YPS counter one at Sule and YPS counter two at Thakin Mya Park. YPS counter three is at Myanmar Plaza, YPS counter four is at Hledan, and YPS counter five is at the 8th mile (in front of Junction 8).
“We have jointly worked with respective bus lines for cases where some YBS bus lines closed card readers. If passengers take a record of the bus number and bus line number, we will carry out inspections and take action promptly,” YPS announced.
For the use of the YPS QR system, the MPyps+ Application (Android version) can be downloaded from the Google Play Store or Huawei AppGallery, and it can be used after registration.
“Some bus lines don’t open card reader. A QR code is more convenient, though it is not supported for some phones. We want them to be reformed. Some drivers behave impolitely towards passengers, and we want also it to be repaired,” said Ko Pyae Sone, a company employee who uses YPS service every day. 

Source: The Global New Light of Myanmar

MAI to expand Chiang Mai, Vientiane, Dhaka flights in April

MAI’S acting chief executive officer and chief commercial officer, Mr Tanes Kumar, said during the MAI Flight Forward ceremony that Myanmar Airways International will expand its flights to Chiang Mai, Vientiane and Dhaka beginning in April. According to the MAI Flight Forward ceremony held at Lotte Hotel on 8 March 2024, a total of 21 international flights will be operated, and new flights will be expanded to Chiang Mai, Vientiane, and Dhaka.

MAI’s new routes to Chiang Mai, Thailand, will operate weekly on Wednesdays, Fridays and Sundays starting 3 April 2024. MAI will also operate weekly flights to Vientiane, Laos, on Tuesdays and Thursdays commencing 4 May 2024, and Doha, the UAE, on Wednesdays and Sundays, starting 8 May 2024 and Dhaka, Bangladesh, on Tuesdays and Saturdays beginning on 1 June 2024. MAI will also increase the number of flights to Dubai, Guangzhou and Bangkok’s Don Mueang Airport in Thailand.

Similarly, MAI cargo-only flights run from Yangon to Kunming daily, Bangkok six times a week, and Phuket every Monday. MAI will resume domestic flights to Lashio and Loikaw, Nay Pyi Taw, and Kalay and Khamti and will also operate new routes to Homalin and Mawlamyine. Thus, it will operate 20 domestic flights.

Source: The Global New Light of Myanmar

Pure gold price hits record high of K4 million per tical

As the spot gold price leaps to an all-time high above US$2,150 per ounce, the domestic gold price peaked at K4 million per tical (0.578 ounce or 0.016 kilogramme) on 7 March 2024.
Along with a surge in spot gold price, the domestic gold price climbed to K4 million per tical.
Meanwhile, the Yangon Gold Entrepreneurs Association (YGEA) hit K3.7985 million per tical.
There is a price gap of around K200,000 per tical between the YGEA’s reference price and the actual market value.
The YGEA calculated the price depending on the Central Bank of Myanmar’s interbank reference exchange rate, with some addition, in spite of the US dollar gain in the unofficial forex market, causing the price gap to widen to K400,000-K500,000 per tical.
Following the CBM’s liberalization for authorized dealers on online forex trading platforms on 5 December 2023, the YGEA’s reference price and the actual market value are not that different. The kyat-US dollar exchange rate is K3,630 at present.
The US dollar exchange rate, therefore, influences the gap between the domestic gold market value and YGEA’s reference gold price.
The soaring dollar exchanging up to K4,000 drove the gold price up to a record high of K4 million per tical in August 2023.
The YGEA also requested that, on 24 January, its members deal in gold with immediate payment and cooperate to stabilize the gold price.

Source: The Global New Light of Myanmar

Myanmar seeks foreign investment in oil crop cultivation for self-sufficiency in edible oil

Negotiations are underway to attract foreign agricultural companies to invest in Myanmar by growing oil crops on vacant land, according to U San Lin, Chair of the Myanmar Edible Oil Dealers’ Association. This initiative aims to achieve self-sufficiency in edible oil production.
Despite cultivating marketable oil crops domestically, Myanmar’s production of edible oil remains low due to limitations in grinding and milling technology. As a result, locally grown peanuts are exported as raw produce rather than processed into peanut oil.
To address this challenge, the Myanmar Edible Oil Dealers’ Association is engaging in negotiations with foreign agricultural companies. These companies would be granted permission to cultivate oil crops, such as sunflowers, on vacant and unused land in the country.
“We are negotiating with foreign agricultural companies interested in investing in Myanmar’s agricultural sector,” explained U San Lin. “We have vacant land available, and we will collaborate with relevant authorities to facilitate land acquisition. Once land is secured, these companies will be allowed to establish factories and oil mills nearby to process the crops into edible oil.”
This initiative is crucial as Myanmar’s domestic production of edible oil (approximately 300,000 tonnes annually) falls significantly short of national consumption (around 1,200,000 tonnes annually). Consequently, Myanmar imports nearly 900,000 tonnes of edible oil each year, with over 90 per cent originating from Indonesia and Malaysia. 

Source: The Global New Light of Myanmar

Myanmar-Thai border trade logs US$4.06 bln in 2023-24 FY

According to Daw Cho Thet Mu, the Deputy Director of the Trade Policy Division within the Trade Department under the Ministry of Commerce, the trade volume between Myanmar and Thailand reached US$4.06 billion via land borders during the period from April 2023 to February 2024 in the 2023-24 Financial Year.
Breaking down the figures, Myanmar exported goods worth $2.86 billion while importing $1.20 billion, resulting in a total trade value of $4.06 billion within the specified period.
Daw Cho Thet Mu stated, “For the Myanmar-Thai border trade from 1 April to 25 February of the 2023-24 FY, Myanmar exported goods worth $2.86 billion and imported goods worth $1.20 billion. Currently, the trade surplus stands at $1.66 billion for Myanmar”.
The main export products include CMP products, agricultural produce, and fishery products. On the other hand, Myanmar imports construction materials, equipment, machines and accessories, medicines, raw materials for factory use, fertilizers, foods, cosmetics, and electronic items from Thailand.
The Myanmar-Thai border trade posts encompass Myawady, Tachilek, Kawthoung, Myeik, Hteekhee, Mawtaung, and Maese.

Source: The Global New Light of Myanmar

Yangon Region govt develops construction of production road in Twantay

The Yangon Region government has announced the construction of a production road in the Shwemayin area of Twantay Township to facilitate the flow of commodities, according to a report. The road will stretch from Mamyosu through Kin Village, Khayangyi, Khayanwa, Yaytwingon, and Kwinpauk in the Shwemayin area.
On 1 March, Yangon Region Chief Minister U Soe Thein and regional ministers inspected the progress of the production road. Currently, the construction of an earthern road measuring 2,400 feet in length and 19 feet in width, with a thickness of six inches, from Kwinpauk Village to the creek has been completed. The chief minister and his team also assessed the construction of a parking lot, which is 300 feet long, 100 feet wide, and seven inches thick, situated at the junction of Shwemayin Creek and Kwinpauk Creek.
This road provides the shortest route for transporting goods from Shwemayin along Kwinpauk Creek, saving time and enabling local products to reach the market promptly. The chief minister emphasized the importance of adhering to standards and meeting deadlines for the projects. Additionally, he urged preparations for water management within Kwinpauk Village to prevent flooding during the rainy season, clearance of undergrowth along village streets, and promotion of vegetable cultivation.
Upon completion of the production road, various sectors, including agriculture, fish farming, healthcare, economy, education, and social welfare in the Shwemayin area of Twantay Township, are expected to experience development. 

Source: The Global New Light of Myanmar

Yangon Port Thrives: Export figures and shipping methods

SINCE the conclusion of the monsoon season in October 2023, Yangon Port has been bustling with cargo vessels, containers, trade activities, and employees. The Ministry of Commerce reports that Myanmar exported nearly US$2 billion worth of agricultural produce from April 2023 to January 2024. In February alone, the country exported 384,405 tonnes of rice, bringing the total exported rice for the 11 months of the financial year 2023-24 to 1.4 million tonnes.

Traditionally, rice exports have been facilitated via containers. However, due to a shortage of containers in the financial year 2021-22, exacerbated by the COVID-19 pandemic, exporters turned to stacking rice in general cargo vessels. This financial year, the volume of rice exported in containers has doubled compared to the stacking method. Europe, Africa, and Asian countries, including Bangladesh and Indonesia, remain primary markets for Myanmar rice.

In February, bean exports reached 156,950 tonnes, contributing to a total bean export of 1.2 million tonnes in the current financial year. Exporters primarily use containers to export beans to India and other Asian countries. Corn exports in February totalled 365,472 tonnes, marking the highest monthly export for corn. The total corn export for the current financial year is 891,038 tonnes. Exporters mainly transport corn by stacking it in the cargo holds of vessels, accounting for 75 per cent of corn exports, while the remaining 25 per cent are shipped in containers. Thailand and the Philippines are the primary buyers of corn.

Small-scale private vessels with capacities of 2,700-3,000 tonnes are also engaged in trading corn to Ranong and Kantang ports in Thailand. The Myanma Port Authority oversees operations to ensure timely transportation with minimal waste. It collaborates with the Myanmar Rice Federation, beans and pulses merchants, as well as the Union of Myanmar Federation of Chambers of Commerce and Industry, the Myanmar International Freight Forwarders Association, the Customs Department, the Department of Trade, and other stakeholders to ensure an adequate supply of containers.

Source: The Global New Light of Myanmar

Mandalay Region welcomes 2.4 million tourists in 2023

More than 2.4 million domestic travellers and foreign tourists visited the destinations in Mandalay Region in 2023, according to U Min Maung Soe, Deputy Director of the Directorate of Hotels and Tourism (Mandalay Region).
In 2023, the number of tourists visiting destinations in Mandalay Region exceeded 2.4 million, comprising over 2.1 million domestic visitors and more than 310,000 foreign tourists.
“In 2022, 1.2 million domestic travellers and 120,000 foreign tourists entered the region. In Mandalay Region, Mandalay, Bagan, Popa, and PyinOo- Lwin areas are tourist destinations that are constantly visited throughout the year,” U Min Maung Soe said.
Mandalay Region Directorate of Hotels and Tourism, Myanmar Hoteliers Association-Mandalay Zone and Myanmar Tourism Federation are cooperating to ensure continuous tourist visits and improve tourism services during this year.

Source: The Global New Light of Myanmar