THE volume of rice and broken rice exports between 1 April, 2018 and 18 January, 2019 is estimated to have crossed 1.9 million metric tons, worth about US$642.7 million, according to an announcement from the Myanmar Rice Federation (MRF).
In the nine months since April 2018, Myanmar has shipped over 1.6 million metric tons of rice worth $547 million to 46 countries. Meanwhile, the country has exported over 323,190 metric tons of broken rice to 21 countries, earning $95.58 million.
Border trade remains relatively high compared with sea trade when it comes to rice exports, accounting for 51.6 per cent of the total exports. The export of rice through the border checkpoints has fetched an estimated $335 million. Meanwhile, maritime trade has generated an income of $307.59 million.
The value of rice and broken rice exports in the April-January period has dropped compared to the corresponding period of the 2017- 2018 fiscal year.
The decline in trade through the border channel has been attributed to China’s tight confiscation of some agro products, including rice, since the second week of October 2018.
The trade capacity through the maritime channel is limited owing to shipping problems, port logistics, financial constraints, and currency fluctuation.
In the 2017-2018 fiscal year, Myanmar exported 3.6 million tons of rice and broken rice worth $1.13 billion.—Htet Myat (Translated by Ei Myat Mon)