Nov 9, 2012

Myanmar plans to export up to 1.5 million tonnes of rice

Myanmar is planning to export up to 1.5 million tonnes of rice in the 2012-2013 fiscal year, according to the Myanmar Rice Industry Association (MRIA).

Myanmar exported more than 790,000 tonnes in 2011, eighth among the top-10 rice exporting countries.

The top 10 countries were: Thailand, Vietnam, India, Pakistan, Brazil, Cambodia, Uruguay, Myanmar, Argentina and China.

If Myanmar exports 1.5 million tonnes of rice during this fiscal year, it would overtake Uruguay, Cambodia and Brazil, and reach fifth place.

Myanmar’s rice exports average more than 100,000 tonnes a month.

Myanmar has exported almost 700,000 tonnes, worth US$260,315, from April 1 to October 19 2012, according to the Commerce Ministry.

The MRIA plans to export rice from its reserves. Rice exports are expected to reach 1.5 million tonnes, an official of the Ministry of Commerce said.

Myanmar expects rice export volumes to reach 3 million in 2017. To achieve this, it requires to increase the per-acre yield, general secretary Ye Min Aung of the MRIA said.

A tonne of Myanmar rice costs US$365 in the world rice market. Thai rice is priced at US$566, Vietnamese US$425, Indian US$410 and Pakistani US$380.

Myanmar’s rice is priced lower than the other countries, but the price for export to China is US$430. This is more expensive than Vietnamese rice as Myanmar is reluctant to export rice to China because of its strict rules on quality and import tax.

Source: Eleven Media Group