May 4, 2017
The country is
projected to export two million tonnes of rice this fiscal year, resulting in
earnings of US$700 million, according to the Myanmar Rice Federation.
Myanmar has been
able to export high volumes of rice in the past five consecutive years, with
1.2 million tonnes in 2013- 2014 FY, 1.8 million tonnes in 2014-2015 FY, 1.4
million tonnes in 2015-2016 FY and 1.7 million tonnes in 2016-2017 FY.
China is the
final destination for 60 per cent of the country’s rice exports, though demand
for Myanmar’s rice also comes from the European Union, Sri Lanka, The
Philippines and Africa. The National Export Strategy focuses on boosting seven
export products: rice; peas/pulses; fisheries products; textiles; timber/forest
products; rubber; and tourism in an attempt to tackle the trade deficit.
All the
stakeholders in the rice supply chain are exerting sustainable efforts in order
to earn up to US$1 billion from Myanmar’s rice sector by 2020, said U Ye Min
Aung, the secretary of Myanmar Rice Federation.
The government
established a public-private partnership in order to distribute pedigree seeds
to the farmers, transform from a traditional farming system into a mechanized
system, upgrade local rice mills and provide agricultural loans.
Agricultural
exports from 1st to 21st April fetched over US$178 million, which is up by over
US$72million compared to the similar period of last FY.
Mon Mon
Ref; The Global
New Light of Myanmar
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