China leads imports of Myanmar’s broken rice in April

CHINA is the top country importing Myanmar’s broken rice, with over 26,000 tonnes in April of the current financial year 2024-2025. Belgium follows this with over 24,000 tonnes and Spain with over 10,600 tonnes, Myanmar Rice Federation’s statistics showed. Myanmar ships over 110,000 tonnes of rice to external markets in April.

Myanmar’s rice and broken rice exports through seaborne trade reached 111,462 tonnes, and 400 tonnes were delivered at the border, according to statistics released by the Myanmar Rice Federation (MRF).

The federation aims to achieve over two million tonnes of rice exports in the 2024-2025 financial year (April-March), bagging 1.1 billion US dollars. Myanmar primarily exports rice to European countries. The federation will make efforts to export premium rice to China, Indonesia, and the Philippines at reasonable prices, according to an official of the MRF.

The federation aims to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of one billion dollars. 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 president of the Myanmar Rice Federation 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/EM

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