THE agricultural exports soared to US$4.19 billion nearly ten months of the current financial year 2020-2021, despite the downward trend in other export groups amid the tightened coronavirus containment measures in the border and increase in container shipping cost.
The
figures reflect an increase of $941 million this FY. The agro exports topped
$3.249 billion in the corresponding period of the 2019-2020 FY, according to
the trade figures released by the Ministry of Commerce.
The
agricultural exports surged even though the main trade partner China shut down
all the border in wake of COVID-19 surge in Myanmar.
The
coronavirus pandemic impacted the foreign demand for other export groups such
as agricultural products, fishery, livestock, mineral, forestry, finished
industrial goods and other goods.
In
the exports sector, the agriculture industry performed the best, accounting for
37 per cent of overall exports. The chief items of export in the agricultural
sector are rice and broken rice, pulses and beans and maize. Fruits and
vegetables, sesame, dried tea leaves, sugar, and other agro products are also
shipped to other countries.
Myanmar
agro products are primarily exported to China, Singapore, Malaysia, the
Philippines, Bangladesh, India, Indonesia, and Sri Lanka. Sometimes, the export
market remains uncertain due to unsteady global demand.
The
country requires specific export plans for each agro product, as they are
currently exported to external markets based upon supply and demand. The G to G
pact also ensures the strong market for the farmers. Contract farming systems,
involvement of regional and state agriculture departments, exporters, traders,
and some grower groups, are required in order to meet production targets, the
Agriculture Department stated.
The
Commerce Ministry is working to help farmers deal with challenges such as high
input costs, procurement of quality seeds, high cultivation costs, and erratic
weather conditions.
KK/
GNLM
#The_Global_New_Light_of_Myanmar
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