The agricultural exports spike 33.36 per cent to a high of US$3.46 billion in the past seven and half months of the current financial year 2020-2021, despite the downward trend in other export groups amid the banking restriction and the tightened coronavirus containment measures in the border. The figures reflect a significant rise of $866.066 million this FY. According to the trade figures released by the Ministry of Commerce, agro exports topped $2.59 billion in the corresponding period of the 2019-2020FY.
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 over 22 per cent of overall exports. The top export items in the agricultural industry 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. They are currently exported to external markets based on supply and demand. Contract farming systems, regional and state agriculture departments, exporters, traders, and some grower groups are required to meet production targets, said an official from the Agriculture Department. The Commerce Ministry works to help farmers deal with challenges — high input costs, procurement of pedigree seeds, high cultivation costs, and unpredictable weather conditions.
Source: The Global New Light of Myanmar