Indonesia becomes Myanmar’s largest rice trading partner from Apr to Oct

 

Indonesia is the top importer of Myanmar’s rice, with over 360,000 tonnes in the past seven months of the current financial year 2024-2025, beginning 1 April, according to the Myanmar Rice Federation (MRF).

China is the second largest importer of Myanmar rice with over 276,400 tonnes, followed by 219,400 tonnes to Belgium, over 114,700 tonnes to the Philippines, over 44,300 to Senegal, 30,000 to Spain, over 27,100 to Cameroon, over 26,500 to Mozambique, 17,500 to the Netherlands, over 13,900 to Ivory Coast, over 13,300 to Italy and over 12,300 to Poland.

Myanmar’s rice and broken rice exports hit over 1.36 million tonnes in the past seven months of the current financial year 2024-2025, beginning 1 April, with an estimated value of $647 million, according to statistics from the Myanmar Rice Federation (MRF).
The federation aims to achieve 2.5 million tonnes of rice exports in the 2024-2025 financial year (April-March).

The Ministry of Commerce has been cooperating with departments and institutions concerned to achieve export targets and beyond depending on the supply volume of rice, broken rice, pulses, corn, rubber and fisheries from the respective companies.

The Ministry of Commerce is working together with the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Rice Federation, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association, Myanmar Garment Manufacturers Association, Myanmar Industries Association, Myanmar Rubber Planters and Producers Association, Myanmar Fisheries Products Processors and Exporters Association to meet monthly export targets and facilitate exports.

The federation was projected to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of $1 billion. However, rice exports fell short of the target with 1.6 million tonnes worth $845 million.

The Central Bank of Myanmar’s monetary policy to control export earnings impeded rice exports, hurting exporters financially. The El Nino weather condition also hampered rice export, the Myanmar Rice Federation president affirmed.

Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the past 2022-2023 FY (April-March), with an estimated value of $853.472 million.

NN/KK

 

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