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July 03, 2020

Commerce Ministry eases restrictions on rice export, reserved rice scheme

The Ministry of Commerce made decisions to relax restrictions on rice export during the meeting with the Myanmar Rice Federation on 26 June.
Aiming to promote the country’s rice export and change reserved rice scheme, the ministry has given green light to export 150,000 tonnes of rice each in July and August beginning 1 July, and 100,000 tonnes of rice in September, totaling 400,000 tonnes in three months.
The ministry also urged the MRF to work for exporting 2.4 million tonnes of rice targeted in 2019-2020 financial year.
The meeting also agreed to lift restriction on the volume of rice export of companies commencing next month and to issue licences under the contracts.
As from 1 July, rice traders will require to sell only 5 per cent of export volume for state reserved rice scheme, reducing from the existing 10 per cent, with 2.5 per cent before applying for export licence and the remaining 2.5 per cent within 15 days after securing the licence.
The MoC has also allowed to extend the term of rice export licence from 45 days to 60 days.—MNA
(Translated by Aung Khin)

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