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September 22, 2019

Agro products export up by $170 million this FY

Workers gathering and scooping unhusked rice into sacks at their farm in Ayeyawaddy Region. Photo: Phoe Khwar

Myanmar’s export earnings from its agricultural sector from 1 April 2017 to 19 January 2018 this fiscal year (FY) was US$2.4 billion, up by $170 million compared with last FY.
Rice forms a major part of Myanmar’s agro exports. More than 2.6 million tonnes of rice, worth $700, were shipped abroad, as of the first week of January, in the current FY. The export volume of rice this FY increased by 1.5 million tonnes compared with last FY.
Similarly, the export of pulses, another key product, reached some 10 million tonnes, with an estimated value of Ks400 million. Despite an increase of 25,000 tonnes in the volume of pulses exports, earnings are down by $400 million, according to the commerce ministry.
This was a result of the changes in India’s import policy. Natural gas and agricultural products individually made up 25 per cent of the exports, while cut-make-pack garments accounted for 16 per cent; minerals for eight per cent; fisheries for five per cent; and forest, animal and other products for 21 per cent.
As of 19 January in the current FY, the export income reached $11.1 billion, registering an increase of $1.87 billion against last FY.

 

Htet Myat

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