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Myanmar to export 2 mln metric tons of rice this FY

Myanmar exports about 200,000 tonnes of rice per month and expects to export two million metric tons during this financial year by cooperating with partner organizations, according to the Myanmar Rice Federation (MRF). The value-added rice is mainly exported to the European market. Although there is no impact on foreign exchange, it affects the rice export to a little extent and so officials make arrangements to overcome certain challenges. Myanmar exports rice to the EU, China, some ASEAN countries and Bangladesh.

There is broken rice demand for export, and the bran and broken rice are provided for the local livestock industry and breweries. Myanmar’s broken is exported to the EU and China most and also to Bangladesh. It still needs to maintain the local demand and export volume. In 2021, the country faced difficulties in currency circulation but this year the situation is better than last year and it hits the rice and farming development sector.

The MRF and rice merchants carried out arrangements regarding trade flows, maintaining a balance between the areas that have the surplus and where are in need and leftover rice in regions to achieve stable rice and broken rice market in July and August. As the local rice price was high at K30,000 per bag for high fertilizer prices, transport charges and a decline in rice mill operations. The prices of broken rice and sticky rice were also on the rise and so the officials made arrangements to gain a stable rice market in the monsoon. The MRF is making efforts to ensure rice and broken rice export, local consumption and a stable market and expects to export two million metric tons this financial year, according to the federation.

Source: The Global New Light of Myanmar

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