Feb 23, 2013

Indonesia offers to buy 300,000 tons of rice from Myanmar

Indonesia has offered to buy 300,000 tons of rice from Myanmar and more amount will follow, official media reported Wednesday.

The offer was made when demand for Myanmar rice in the Southeast Asian member country is on the rise, a commerce official was quoted by the New Light of Myanmar as saying.

According to the official, Myanmar's rice export to Indonesia reached the peak between 2001-2002 and 2005-2006 but was almost none after 2005-2006 for various reasons.

Myanmar could only export 2,125 tons of rice to Indonesia in the first three quarters of 2011-2012 but it sharply increased to 1.01 million tons in the same period of 2012-2013, he said.

"If that rate continues, Myanmar's rice export would hit 1.2 million tons, a record high in 40 years," he assumed.

Myanmar, which was once a major rice exporter, exported more than 1 million tons before 1956.

Source: Global Times