Myanmar’s exports of agricultural products from 1 October to 31 May in the current fiscal year crossed US$2.3 billion from $2.09 billion in the corresponding period of the 2017-2018FY, according to trade figures released by the Ministry of Commerce.
The figures show an increase of $246.6 million compared with the year-ago period.
The agricultural sector has done the best along with the natural gas sector. The chief items of export in the agricultural sector are rice and broken rice, pulses, corn, and rubber. Myanmar also ships fruits and vegetables, sesame, dried tea leaves, sugar, and other agro products to other countries.
Nevertheless, agricultural exports have not seen a remarkable increase in terms of trade value owing to China’s tight confiscation of some agro products, including rice, since the second week of October.
The Commerce Ministry is negotiating with the Chinese authorities to increase the quota limit for Myanmar rice and broken rice, and it has also agreed to implement a barter system. The Ministry is also working to help farmers deal with challenges such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather.— Ko Htet
(Translated by Ei Myat Mon)