20150708_Mapco

MoC issues export licence for rice to be shipped to Bangladesh under MoU

The Ministry of Commerce has granted an export licence for 191,700 tonnes of rice that will be shipped to Bangladesh according to the agreement between the two countries. As per the Memorandum of Understanding between Myanmar and Bangladesh on the rice trade, 48 companies, under the supervision of the Myanmar Rice Federation, are to export 200,000 tonnes of rice to Bangladesh with Chinese yuan payment between October 2022 and January 2023. Following the contract, white rice (ATAP) GPCT Broken STX variety will be delivered.

The FOB prices were 2.78856 Yuan per kilogramme and 2788.56 Yuan per tonne. The Export/Import division of the Trade Department issued over 534 million Yuan worth 42 export licences for 41 companies to convey 191,700 tonnes of rice to Bangladesh. Myanmar and Bangladesh inked a Memorandum of Understanding (MoU) on rice trade in September this year. According to this MoU, Bangladesh has agreed to buy 250,000 tonnes of white rice and 50,000 tonnes of parboiled rice from Myanmar between 2022 and 2027. Under the MoU, Bangladesh’s Directorate General of Food and MRF signed a sales contract for 200,000 tonnes of Myanmar’s white rice to be exported to Bangladesh.

As per the sales contract, Myanmar has shipped over 20,000 tonnes of white rice to Bangladesh till 31 October 2022. The remaining will be delivered before the deadline. Since 7 September 2017, Myanmar and Bangladesh have engaged in rice trade under the government-to-government pact. That MoU stated that Bangladesh has agreed to buy Myanmar’s white rice (250,000 tonnes) and parboiled rice (50,000) tonnes between 2017 and September 2022. Bangladesh’s Directorate General of Food and MRF signed the sales contracts as per the MoU and Myanmar sent 100,000 tonnes of rice to Bangladesh each in 2017 for the first time and 2021 for the second time, as per the sales contract. 

Source: The Global New Light of Myanmar

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