Myanmar earns over US$1-bn from rice exports this year

22.03.2018
A rice sales centre at Bayintnaung wholesale centre
 
Myanmar earned more than US$1 billion (1.33 trillion kyat) from rice and broken rice exports to 57 countries as of March 9 in 2017-18 FY, according to the Ministry of Commerce.
 
Myanmar earned $905 million from 2.8 million tonnes of rice exports to the 57 countries, and $151 million from 580,000 tonnes of broken rice exports to 33 countries in 2017-18 FY.
 
It earned $578 million from border trade of the grains and $477 million from maritime trade. About 60 per cent of the total rice export was destined for the African markets, according to the Myanmar Rice Federation (MRF).
 
High quality rice is exported to European countries, while low quality 25-mark rice is exported to African countries. Myanmar is expected to export up to four million tonnes of rice within three years and to earn $1.5 billion from the export, according to the Myanmar Rice Sector Development Seminar 2018 held at Nay Pyi Taw on March 6.
 
Myanmar exported about one million tonnes of rice in 1956, 1957, 1959 and 1960 before and after the independence era, according to the MRF.
 
The main customers for Myanmar’s rice are China, Bangladesh, Ivory Coast, Belgium, Ghana, Madagascar, Sri Lanka, Afghanistan, Senegal and Poland.
 
Although China accounted for about 70 per cent of exported Myanmar rice in the past, exports of farming products have increased as new markets were developed from maritime trade.
 
 

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