Myanmar’s maritime export of rice accounts over 85 percent in the current 2019 – 2020 fiscal year

Myanmar’s maritime trade constituted 85.74 per cent of rice exports and generated an estimated income of US$560.8 million as of 3 July in the current fiscal year, as per data from Myanmar Rice Federation (MRF). Earlier, border trade was relatively high compared to sea trade in terms of rice exports. Since the previous financial year, border trade has dropped, and currently, it accounts for just 14.26 per cent of the total rice exports. Rice exports through the borders have generated an estimated $87.186 million in the current financial year. Myanmar primarily exports rice to China through the borders. However, trade in agricultural products has been halted on account of China clamping down on illegal trade and China’s precautionary measures to contain the spread of coronavirus.
With the growing demand from the foreign countries, the export price of rice is up by $10-15 per tonne in recent day. However, it is difficult to ship rice in rainy season, said traders from Bayintnaung market. The volume of rice and broken rice exported between 1 October and 3 July in the 2019-2020 fiscal year has been estimated at over 2.16 million metric tons, worth over $647.98 million, according to an announcement from the MRF.
In the current financial year, Myanmar has shipped rice to 66 foreign markets. China is the main buyer of Myanmar rice, followed by Malaysia and Madagascar. Philippines is the fourth-largest buyer and Cote D’Ivoire the fifth-largest buyer of Myanmar rice. The European Union countries account for over 20 per cent of rice exports, while 31.27 per cent of rice grown in Myanmar goes to African countries.
In the current fiscal, Myanmar has exported broken rice mostly to Belgium, followed by Senegal, China, Indonesia and the Netherlands. Broken rice has been placed in 57 foreign markets. Myanmar shipped 3.6 million tonnes of rice in the 2017-2018 fiscal year, which was an all-time record in rice exports. The export volume plunged to 2.29 million tonnes, worth $691 million, in the 2018-2019FY. – GNLM (Translated by Ei Myat Mon)

(The Global New Light of Myanmar: https://www.globalnewlightofmyanmar.com/maritime-export-of-rice-accounts-for-over-85pc-in-current-fy/ )

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