Myanmar earns $764 mln from 2.5 mln- tonne rice export this FY

19 Sep

Myanmar has exported over 2.5 million tonnes of rice and broken rice as of 4 September in this financial year (FY), stated Myanmar Rice Federation (MRF) on Wednesday. According to the figures released by MRF, the country has exported over 1.56 million tonnes of rice to 66 countries and 934,197 tonnes of broken rice to 60 countries, earning over US$64 million. Myanmar has set a target to export 2.5 million tonnes of rice in present financial 2019-2020 which started from 1 October, according to MRF.

Myanmar has sent over 402,528 tonnes of rice to the neighbouring countries through border trade while over 2.098 million tonnes of rice and broken rice shipped to foreign trade partners via maritime trade, totalling over 2.5 million tonnes. China is the primary buyer of Myanmar rice, followed by Malaysia and Madagascar. Myanmar has also exported broken rice mostly to Belgium, followed by China and Senegal.

From October 2019 to 4 September of 2020, China consumes 29 per cent of total export followed by Africa market with 28 per cent, European Union market with 20 per cent, Asian countries with 19 per cent, and other countries with 4 per cent consumption of the total export. 

GNLM (Translated by Hay Mar)