Myanmar will ship over 135,000 tonnes of rice to international markets.
Eight ships designated for bagged rice cargo are docking at the international port terminals, and more than 135,000 tonnes of bagged rice are planned to be loaded onto them, according to the Ministry of Commerce.
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, maize, rubber and fisheries from the respective companies.
The 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 export targets and facilitate exports. The federation aims to achieve 2.5 million tonnes of rice exports in the 2024-2025 financial year (April-March).
Myanmar is projected to export 12,500 tonnes of rice each through Ahlon International Port Terminal and Yangon International Gateway Terminal, 10,000 tonnes through The Myanmar Terminal, 9,800 tonnes through Wilmar International Port Terminal, and 91,120 tonnes through Sule Pagoda Wharves, totalling 135,920 tonnes.
Furthermore, four more ships will be called to Yangon Port to export 74,000 tonnes of rice.
The federation aimed to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of US$1 billion. However, rice exports fell short of the target with 1.6 million tonnes worth $845 million.
The chairperson of the Myanmar Rice Federation affirmed that the Central Bank of Myanmar’s monetary policy to control export earnings impeded rice exports, hurting exporters financially. The El Nino weather conditions also hampered rice export.
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
