INDONESIA became the top importer of Myanmar’s rice with over 593,000 tonnes in the past nine months of the current financial year 2024-2025 beginning 1 April, according to the Myanmar Rice Federation (MRF).
China is the second largest importer of Myanmar rice with over 410,000 tonnes, followed by 274,400 tonnes to Belgium, over 131,000 tonnes to the Philippines, over 96,600 to Senegal, 46,900 to Cote D’Ivoire, over 44,200 to Mozambique, over 30,000 to Spain, over 27,100 to Cameroon, 17,500 to the Netherlands, over 17,400 to Poland, over 13,900 to Ivory Coast and over 13,300 to Italy.
Myanmar’s rice and broken rice exports hit over two million tonnes in the past nine months (from April to December) of the current financial year 2024-2025, with an estimated value of $948 million, statistics of the Myanmar Rice Federation (MRF) showed.
The federation aims to achieve 2.5 million tonnes of rice exports in the 2024-2025 financial year (April-March).
The Ministry of Commerce has been cooperating with departments and institutions concerned to achieve monthly export targets and beyond depending on the supply volume of rice, broken rice, pulses, corn, rubber and fisheries from the respective companies.
Ministry of Commerce is working together with the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Rice Federation, Myanmar Rice Federation, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association, Myanmar Garment Manufacturers Association, Myanmar Industries Association, Myanmar Rubber Planters and Producers Association, Myanmar Fisheries Products Processors and Exporters Association to meet monthly export targets and facilitate exports.
The federation is projected to achieve 2.5 million tonnes of rice export in the FY 2023- 2024, generating earnings of one billion dollars. However, rice exports fell short of the target with 1.6 million tonnes worth $845 million.
The Central Bank of Myanmar’s monetary policy to control export earnings impeded rice exports, hurting exporters financially. The El Nino weather condition also hampered rice export, the president of the Myanmar Rice Federation affirmed.
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. — NN/KK
