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June 25, 2019

Without slightest hesitation in agricultural sector

Farmers make up 70 percent of the population of Myanmar. Sufficient agricultural loans and lower interest rates are important for the success of the farming industry. Farmers find it difficult to keep on farming when the major source of livelihood means being in debt.
Rice exports by Thailand in 2014 were 10.8 million tonnes, making it the biggest rice exporting country in the world. Myanmar exported only around 1 million tonnes of paddy in the same year. In this circumstance, all-round sectors regarding crop cultivation should be reviewed and made better.
Myanmar exported 610,500 tons of rice, gaining nearly $212.2 million in 2012, a drop from 789,100 tons and $307 million in 2011 according to government statistics.
Modern farming technologies and high-yield crops are playing key roles to increase production. But enough credit will be needed for the farmers to be able to grow more varieties of crops and agricultural enterprises should be set up to process and package the crops to help the farmers get more income.
Implementation needs to be combined with modern technologies. Most Southeast Asian countries largely rely on agriculture. These countries are rushing to global markets and Myanmar should not hesitate or delay to adopt a pragmatic system to become a major rice exporter as has been planned for the agricultural sector.
Rice consumption in the world is estimated at 483 million tonnes, while global rice trade is expected to hit 41.9 million tonnes in 2015, marginally higher than 41.88 million tonnes in 2014. Strong import demand is anticipated, particularly for China, Nigeria, Iran and the Philippines.
In these emerging markets, Myanmar should try to keep pace with other rice-producing countries. After all, the economic policy of the country has chosen agricultural as a major source for economic growth.

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