Friday, May 5, 2017

Myanmar targets 2M tonnes of rice exports this FY

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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