Aug 1, 2011

Rice exports expected to rise

A recent cut to export taxes is being tipped to boost rice exports this year, the chairman of the country’s premier rice industry body said last week.

U Chit Khine, chairman of the Myanmar Rice Industry Association and owner of Kitzana Kyun Thar rice company, predicted exports this year would be 20 percent greater than the 500,000 tonnes of rice that earned US$185 million in the 2010-11 fiscal year.

However, even a 20pc increase would be well short of the 900,000 tonnes that earned more than $280 million in the 2009-10 fiscal year.

“The 2009-10 exports were the highest they had been in a decade … It’s not possible that we’ll export that much this year but our association is working to support farmers to buy the required inputs such as fertiliser and teaching better growing techniques,” he said.

“Now that the government has cut the export tax from 10 to 7pc, we expect our exports will rise this year,” he said.

The Ministry of Commerce informed exporters of the 3pc tax reduction in early July.

An economist working for the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) said: “Since the government cut the export tax it’s more likely that exporters will make a profit from selling rice abroad, which is a good way to encourage export activity.”

All commodities exporters are battling an uncertain currency exchange climate that saw the US dollar fall in value by nearly 10pc between May and June, eventually hitting a low of K750 in early June. On July 21, $1 was trading for about K785.

U Chit Khine said the association will now force authorised exporters to sell 5pc of their stock at an agreed rate on local markets to ensure stable prices, beginning from this year.

The Ministry of Commerce authorised 35 specialised rice companies to export 40,000 tonnes in April, although only 30,000 tonnes were actually exported, said U Sein Win Hlaing, the association’s vice president.

He said low-grade ehmeta (including 25pc broken grains) rice is selling for about US$390-400 a tonne fixed-on-board, or about $20 a tonne more than at the same time last year. He said ehmeta is mainly sold to West African nations and Bangladesh. – Translated by Zar Zar Soe

Source: Myanmar Times


Anonymous said...

Car loan, a bad credit score not a big deal, form of lenders are typical on the place payday loans seek out "bad credit home lenders" to be able to qualify.

Anonymous said...

I think everything said made a lot of sense. But, what about this?
what if you wrote a catchier title? I mean, I don't want to tell you how to run your blog, but what if you added something to possibly get people's attention?

I mean "Rice exports expected to rise" is a little vanilla.
You should glance at Yahoo's home page and see how they create news titles to get viewers to click. You might add a video or a related picture or two to get readers excited about everything've
written. In my opinion, it would bring your website a little livelier.

Feel free to surf to my page :: home loan bad credit score

Anonymous said...

Stunning story there. What happened after? Thanks!

my homepage ... cheap hosting reseller

Anonymous said...

Hi mates, its wonderful paragraph on the topic of tutoringand fully defined, keep it up all the time.

Check out my web-site ... private student loan consolidation credit union

Anonymous said...

It's perfect time to make some plans for the future and it is time to be happy. I've read this post and if I
could I want to suggest you few interesting things or
advice. Perhaps you could write next articles referring to this article.
I desire to read even more things about it!

Feel free to visit my homepage ... wechsel krankenversicherung privat zu gesetzlich

Anonymous said...

It's hard to come by knowledgeable people in this particular subject, however, you seem like you know what you're talking about!

Here is my homepage: private krankenversicherung günstiger als gesetzliche

Anonymous said...

Hey very interesting blog!

Feel free to visit my homepage :: günstiger kredit ohne schufa

Anonymous said...

Today, I went to the beach with my children. I found a
sea shell and gave it to my 4 year old daughter and said "You can hear the ocean if you put this to your ear." She put
the shell to her ear and screamed. There was a hermit crab
inside and it pinched her ear. She never wants to go back!
LoL I know this is totally off topic but I
had to tell someone!

Here is my website of stay at home moms

Anonymous said...

Very great post. I just stumbled upon your weblog and wished to mention that
I've truly loved browsing your weblog posts. In any case I'll be subscribing in
your rss feed and I hope you write once more
very soon!

Feel free to visit my web blog; fashion online

Anonymous said...

I really like what you guys are up too. This type of clever work and reporting!
Keep up the wonderful works guys I've you guys to my blogroll.

Feel free to surf to my homepage wechsel private krankenkasse in gesetzliche

Anonymous said...

Today, I went to the beach front with my children.
I found a sea shell and gave it to my 4 year old daughter and said "You can hear the ocean if you put this to your ear." She placed the shell to her ear and screamed.
There was a hermit crab inside and it pinched her ear.
She never wants to go back! LoL I know this is totally off topic but I had to tell someone!

Here is my page :: best web hosting reseller plan

Anonymous said...

I'd like to thank you for the efforts you've put in
writing this blog. I am hoping to see the same high-grade blog posts
by you in the future as well. In fact, your creative writing abilities has encouraged me to get my own site now ;)

Also visit my weblog; cheapest caribbean Island to vacation

Anonymous said...

I have read so many posts on the topic of the blogger lovers but
this piece of writing is genuinely a nice article, keep it up.

Also visit my web site; vergleich private krankenversicherung Gesetzliche krankenversicherung - aulatransformando.Org

Anonymous said...

We are a group of volunteers and opening a new scheme in
our community. Your web site provided us with valuable info to work on.

You have done a formidable job and our entire community will be thankful to you.

Feel free to surf to my website - grand cayman all inclusive

Anonymous said...

Hmm it looks like your site ate my first comment (it was super long) so
I guess I'll just sum it up what I had written and say, I'm
thoroughly enjoying your blog. I too am an aspiring blog writer but I'm still new to everything. Do you have any helpful hints for inexperienced blog writers? I'd definitely appreciate it.

my webpage :: krankenkassen mit zusatzbeitrag

Anonymous said...

What's up, the whole thing is going sound here and ofcourse every one is sharing information, that's genuinely fine, keep up

my blog ... private krankenversicherung Gesetzliche krankenversicherung

Anonymous said...

Thanks for a marvelous posting! I genuinely enjoyed reading it, you might be a great author.

I will ensure that I bookmark your blog and definitely will come back
from now on. I want to encourage you to definitely continue your great posts, have a nice day!

Also visit my website; moms jobs at home

Anonymous said...

Thanks very interesting blog!

Stop by my web page - All Inclusive Vacations Caribbean

Anonymous said...

What's Taking place i'm new to this, I stumbled upon this I have found It positively
helpful and it has helped me out loads. I'm hoping to contribute & help different users like its aided me. Good job.

Feel free to surf to my weblog ... bad credit mortgage refinancing

Anonymous said...

I always spent my half an hour to read this blog's articles all the time along with a cup of coffee.

Feel free to surf to my web-site :: Hosting Unlimited

Post a Comment