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September 19, 2018

Rice, broken rice export volume expected to hit over 2 million tons

Workers loading sacks of rice on a ship at a jetty in Yangon. Photo: Phoe Khwar

The volume of rice and broken rice export is expected to reach 2 million tons in the current six-month mini-budget period, prior to next fiscal year 2018-2019, said U Ye Min Aung, general secretary of Myanmar Rice Federation (MRF).
“Export volume during this period can be less than previous years but we have to wait and sea. Around 400,000 acres of paddy plantations were damaged by floods. This mini-budget period intends to see export volume of over 2 million tons”, said U Ye Min Aung. Between 1 April and 17 August, the volume of rice and broken rice export was estimated at 909,376 metric tons, earning US$315 million, according to an announcement by
MRF. In the similar period of last year, over 1 million tons of rice and broken rice were shipped to foreign countries, with export value of $300 million.
“The current export volume shows a slight decrease compared to that in the similar period of last fiscal year. However, export values are relatively similar”, said U Ye Min
Aung.
In the past nearly five months, Myanmar’s rice worth US$256 million was shipped to 40 countries, with export volume of over 713,104 metric tons. Meanwhile, over 196,271 metric tons of broken rice were exported to 15 countries, earning $58 million.
Border trade surpassed sea trade in rice export, accounting for 56.7 per cent of the total export. Rice export through border checkpoints earned an estimated $183.9 million, whereas the sea trade saw an income of $131 million. In the last 2017-2018 fiscal year, 3.6 million tons of rice and broken rice worth $1.13 billion were exported to foreign countries.

 

By Nyein Nyein

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