You can read daily news of Global New Light of Myanmar using mobile applications. Download now!

July 03, 2020

MRF strives for rice export target of 2.4mln tonnes in 2019-2020FY

By Nyein Nyein

Myanmar Rice Federation (MRF) has been accelerating its effort to meet rice export target of 2.4 million tonnes in the current financial year 2019-2020, according to MRF.
Under the guidance of the Ministry of Commerce, coordinating meeting related to rice export and the country’s rice reserve matters was held on 26 June.
According to the coordination meeting, 150,000 tonnes of rice will be exported each in July and August. And, 100,000 tonnes of rice will be sent to the external market in September, totalling rice export quota of 400,000 tonnes.
MRF stated that Myanmar has shipped over 2.044 million tonnes of rice and broken rice as of 12 June since October in the current fiscal, generating US$605.907 million.
Additionally, starting from July, each export quota limit for companies are to be lifted and licence permit under contract was discussed and approved.
Regarding the State’s rice reserve scheme, the rice volume for reserve will be cut to 5 per cent from 10 per cent of total rice export. This action will come into effect on 1 July 2020.
Before seeking the export licence, the companies must provide 2.5 per cent of total rice export as the reserved rice, and then, the remaining 2.5 per cent must be sent to the State’s warehouses within 15 days after receiving the licence, as per decisions of the coordination meeting.
Moreover, the meeting decided that the validity of rice export licence is extended up to 60 days from the earlier term of 45 days, MRF stated. (Translated by Ei Myat Mon)

Comments

Related posts