MYANMAR’S rice and broken rice exports hit over 71,000 tonnes in May 2024, comprising over 70,751 tonnes by seaborne trade and 528 tonnes at the border, statistics released by the Myanmar Rice Federation (MRF) showed.

Myanmar exported over 111,000 tonnes of rice and broken rice in April, with over 111,460 tonnes through maritime trade channels and 400 tonnes at border posts.

The rice exports reached 183,141.5 tonnes in the past two months of the current financial year 2024-2025.

The federation aims to achieve 2.5 million tonnes of rice exports in the 2024-2025 financial year (April-March), bagging one million US dollars.

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.

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 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 chairperson 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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