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November 19, 2019

Rice worth $479 mln exported

 

The volume of Myanmar’s rice a

Labourers carry rice bags at Botahtaung Harbour in Yangon .  Photo: Phoe Khwar
Labourers carry rice bags at Botahtaung Harbour in Yangon .
Photo: Phoe Khwar

nd broken rice exports from 1 April to 23 November has been estimated to be 1.39 million metric tons, worth US$479 million, said the Myanmar Rice Federation.
Over the last eight months, Myanmar has shipped over 1 million metric tons of rice to 46 countries, earning $398 million. The country has exported over 269,500 metric tons of broken rice, worth $80.9 million, to 21 countries.
Trade on the border has been comparatively higher than sea, accounting for 52.7 per cent of the total rice exports. The export of rice and broken rice through border checkpoints have earned an estimated $258 million. Exports over sea have fetched $220.7 million. Since the second week of October, China has tightened controls on importation of rice, sugar, and corn through the Muse checkpoint, resulting in suspension of trade. As a result, FOB prices of low-quality rice have declined, according to the Bayintnaung market. Over 100,000 bags of rice are entering the Bayintnaung market daily.
In the 2017-2018 Fiscal Year, Myanmar exported 3.6 million tons of rice and broken rice, worth $1.13 billion. —GNLM
(Translated by Ei Myat Mon)

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