Aug 20, 2013

Myanmar earns over US$ 124 million from rice exports

Myanmar has earned over US$ 124 million from rice exports between April and August this year, according to reports from the Ministry of Commerce.

Myanmar earned more than US$ 97 million from exporting 241,855 tonnes of rice while it realised over US$ 26 million from broken-rice volume of 81,130 tonnes.

The rice exports were slow in July because the price rose and traders targeted the local market.

The rice was exported to foreign countries not only by sea but also across border routes. Muse border trade hubs exported 98,000 tons of rice to China over four months.

Myanmar exports rice mainly to China. In June, 5,000 tonnes of rice was exported to Japan. One tonne of rice is priced at US$ 340 to US$ 380. The price varies in the market and quality. If rice is exported to African countries, the price can be higher.
Myanmar earned US$ 528 million from rice exports of 1.3 million tonnes and US$ 36.4 million tonnes from broken-rice export volume of 116,846 tons last year.

Source: Eleven Weekly Media