Myanmar has exported over 1.3 million tons of rice and broken rice in the first seven months of the current fiscal year, a decline of 800,000 tons compared with the corresponding period of the 2017-2018FY, according to the Commerce Ministry.
From 1 October, 2018 to 26 April, 2019, Myanmar shipped over 1.3 million tons of rice and broken rice worth US$412.377 million, according to data from the Commerce Ministry.
The country exported 2.1 million tons of rice and broken rice in October-April in the previous fiscal. With the volume of exports falling by 800,000 tons, income has also fallen by $300 million.
As per data from the Commerce Ministry, over 505,770 tons of rice and broken rice, worth $153.6 million, were exported through the border gates in the current financial year, while maritime exports were registered at over 831,000 tons and valued at $258.7 million.
China is the main buyer of Myanmar rice, followed by the Philippines and Côte d’Ivoire. Cameroon is the fourth largest buyer of Myanmar rice, followed by Guinea.
Myanmar sends broken rice mostly to Belgium, followed by Indonesia, China, the UK, and Poland.
Rice trade to China through the Sino-Myanmar border trade channels has halted as China has been cracking down on illegal goods from October, 2018. This has led to a steep drop in rice exports to China, leaving about 50,000 tons of rice stockpiled at Muse gate. “As China’s market constitutes 46 per cent of overall exports of Myanmar, the market is affected by China’s demand,” said U Aung Than Oo, the Chair of Myanmar Rice and Paddy Traders Association. Myanmar shipped over 3.6 million tons of rice to other countries in the 2017-2018 fiscal year, which is the highest rice export volume so far on record.
By Nyein Nyein(Translated by Ei Myat Mon)