August 19, 2016

Myanmar’s rice exports top 500,000 tonnes in 1st half of fiscal year amid flood recovery

Despite ongoing agriculture recovery efforts following devastating flooding across the country, Myanmar exported more than 500,000 tonnes of rice in the first half of the current fiscal year, according to figures from the Myanmar Rice Federation.
From 1 April to 9 October this year, rice exports to 43 countries reached 507,624 tonnes and fetched US$185.843 million in revenue, said the federation based on Customs data and figures from the Department of Commerce and Consumer Affairs.
Among the 43 rice markets of Myanmar, China is the biggest rice customer. Exports to China accounted for 422,044 tonnes during the period, bringing in revenues of $155.676 million.
According to statistics, 413,591 tonnes of rice to China came from border trade, while 8,453.63 tonnes were shipments.
Sources said that rice
exports and revenues were down 150,000 tonnes and $60 million from the same period last year
Myanmar resumed its rice exports in mid-September after lifting a one-and-a-half month freeze aimed at maintaining price stability and local self-sufficiency in the wake of the widespread floods.
Before the temporary export ban, the country had already exported around 400,000 tonnes of rice.
Despite an aim of exporting 2 million tons of rice in 2015, Myanmar appears set to see a decline in rice exports this fiscal year.
Dr Soe Tun, MRF vice-president, told The Global New Light of Myanmar earlier that the country cannot meet its rice export target for this year. He predicted that exports would be between 1 and 1.5 million tons in 2015.
According to the data, Myanmar exported 1.83 million metric tons last year.


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