MYANMAR delivered over 404,453 metric tonnes of rice and broken rice in the past two months this year (April-May), according to the Myanmar Rice Federation-MRF.
In the past two months, a total of 35 exporter companies delivered over 391,580 MT of rice to foreign trade partners through sea trade, whereas 12,873 MT were sent to neighbouring countries via border posts. The export volume in cross-border trade significantly plunged compared to the previous year’s record owing to trade delays triggered by China’s strict border rules. Myanmar shipped rice and broken rice to China, regional countries, countries in Africa and European Union member countries through maritime trade.
Myanmar exported rice to around 20 foreign markets, mostly to China (35,121 MT), Cameroon (34,000 MT), the Philippines (28,460 MT), Poland (24,155 MT) and Madagascar (22,000 MT).
Additionally, Myanmar conveyed over 47,100 MT of broken rice to China, 37,204 MT to Belgium, 25,000 MT to Spain, 19,100 MT to Poland and 14,790 to the Netherlands respectively and over 700 MT to other four markets respectively.
The prices of rice for the export market are rocketing on low supply, according to the Bayintnaung Rice Wholesale Depot.
The prices of low-quality white rice varieties were approximately US$320-360 per MT depending on the different varieties and quality. The export price of Myanmar’s rice was relatively lower than the rates of Thailand and Viet Nam. Yet, the prices were higher than those of market prices of India and Pakistan, MRF’s data showed. The export rice prices (Low Quality) move in the range of K29,000 and K30,000 per 108-pound bag depending on different varieties in the domestic market, according to Bayintnaung Commodity Centre.
Myanmar has shipped more than 1.4 million tonnes of rice and broken rice to foreign trade partners between 1 October and 31 March in the past mini-budget period (2021-2022), the Myanmar Rice Federation stated.
Myanmar also generated an income of US$700 million from two million tonnes of rice exports to the foreign countries in the past 2020-2021 financial year. — KK/GNLM