Mar 11, 2013

Japanese Mitsui starts purchasing Myanmar rice after tests

Japanese conglomerate Mitsui Corporation would buy rice for the first time from Myanmar in May, after testing the cargo quality through many steps, a Myanmar rice export company reported.

Mitsui Corporation agreed to buy 5,000 tonnes of rice as the first shipment from Myanmar Agribusiness Public Corporation Ltd (MAPCO). Shipment will start in May, it said.

Quality tests including testing 276 chemical residues in the rice were carried out before the deal, it stated.

MAPCO is trying to procure reliable supplies of quality rice with less than 10 percent broken from farmers, the company announced and noted that it also buys rice containing 10 percent or 15 percent broken.

Established since last year, MAPCO is a non-government public corporation. The company mobilizes public saving for investment in Myanmar agriculture business.

Myanmar exported over 1.3 million tonnes of rice during this fiscal year, and it is expected to hit 1.5 million, Ye Min Aung, Secretary of Myanmar Rice and Paddy Traders Association, said.

He added that his association is also seeking more new markets for Myanmar rice.

Source: Eleven Weekly Media