Myanmar Rice Federation (MRF) invited investors to submit the proposal for building rice drying machines and storage facilities

The Myanmar Rice Federation (MRF) has invited investors, especially local farmers, to submit proposals for building rice drying machines and storage facilities. The overall project will require about K170 million in investments.

The project will be implemented as a joint project between small and medium enterprises and local farmers in the areas where the rice is mainly grown.

The MRF said the rice drying machines and small-scale rice storage facilities will dry harvested rice and help reduce losses from quality degradation during the post-harvest season.

There needs to be five farmers investing per project. They will only be required to invest one-third of the cost, and the federation will help acquire other financial assistance with low interest from the government and other partner organizations.

In the 2018 Fiscal Year, Myanmar managed to export over 3 million tons of rice while it is extimated to export only a total of two million tons of rice, according to U Myint Cho, Deputy Director of the Ministry of Commerce, at the annual meeting of Myanmar Rice Millers Association held on July 28.

The drop in rice export is caused by lower rice demands from Chinese buyers in addition to the sluggish demand from regular African buyers.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/mrf-accepting-proposals-build-rice-drying-machines-and-storage-facilities )

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