The value of Myanmar’s rice and broken rice exports swelled up to US$138 million from over 310,000 tonnes in the past four months (Apr-July) of the current financial year 2023- 2024, comprising 294,100 tonnes in maritime trade and 25,313 tonnes in border, according to Myanmar Rice Federation (MRF).
The export volumes were registered at 87,648 tonnes worth $36 million in April, 110,706 tonnes worth $48 million in May, 62,725 tonnes worth $28 million in June and 58,334 tonnes worth $26 million in July respectively.
The rice export volume recorded the highest in May. Then, the volume slumped in June and July.
MRF aimed to achieve 2.5 million tonnes of robust rice export in the current FY, generating an income of US$1 billion.
Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the past 2022-2023 FY (April-March), with an estimated value of $853.472 million.
Last FY, China is the main buyer of Myanmar’s rice and broken rice with over 775,000 tonnes, followed by Belgium with 323,000 tonnes, Bangladesh with over 239,000 tonnes and the Philippines with over 202,000 tonnes.
Myanmar has been exerting concerted efforts to increase 10 per cent yearly in the rice export.
To raise foreign income, it has been prioritizing the exportation of high-grade rice and boosting export volume, MRF stated.
Myanmar pocketed over $809.135 million from approximately 2.164 million tonnes of rice export in the 2021-2022 FY (April-March). — NN/EM