Myanmar exports of agricultural products exceeded USD $ 3.3 billion in ten months of current fiscal year

Myanmar exports of agricultural products between 1 October and 31 July in the current financial year 2019-2020 exceeded US$3.3 billion from $2.8 billion in the corresponding period of the 2018-2019FY, according to the trade figures released by the Ministry of Commerce. During the past ten months, the agro-export figures reflect an increase of $500.5 million against a-year ago period. In the exports sector, the agriculture industry performed the best along, accounting for 22 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. However, 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. Contract farming systems, the involvement of regional and state agriculture departments, exporters, traders, and some grower groups, are required to meet production targets, said an official from the Agriculture Department. The Commerce Ministry is working to help farmers deal with challenges such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather conditions. — Ko Htet (Translated by Ei Myat Mon)

(The Global New Light of Myanmar: https://www.globalnewlightofmyanmar.com/agro-exports-top-3-3-bln-in-ten-months/ )

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