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October 21, 2018

Rice export exceeds 800,000 tons in four months

Workers load sacks of rice onto a truck in Yangon. Photo: Phoe Khwar

The volume of rice and broken rice exports in the past four months reached over 802,212 metric tons, with an estimated value of US$277.7 million, according to an announcement of the Myanmar Rice Federation (MRF).
Between 1 April and 27 July 2018, Myanmar’s rice was sent to 40 countries, while broken rice were exported to 15 foreign countries. The rice export was worth $223 million, while broken rice was valued at $54 million.
Border trade surpassed sea trade in rice export, accounting for 55.3 per cent of the total export. Rice export through border checkpoints earned an estimated $158.68 million, whereas the sea trade saw an income of $119 million.
Since last month, China’s minimum purchase price and low demand, and transportation difficulties caused by terrible weather brought down export rice price in both border and sea trades.
Rice is the chief export among the country’s agriculture products. 75 per cent of the production is for domestic consumption and the remainder is exported. 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.

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