Jan 6, 2015

Rice exports to China surge

Myanmar rice exports to China through the Muse border crossing have swelled due to increased demand from China and fewer seizures by Chinese authorities, according to merchants from Muse.

“Demand is up. Export is surging,” a merchant said.

On average, about 4,500 tonnes of rice and 1,500 tonnes of broken rice are exported daily through Muse Trade Camp.

“Seizure of Myanmar rice by Chinese authorities has decreased. Trade slumps when seizures occur. More than 800,000 tonnes of rice and broken rice have been exported this fiscal year,” said Chantha Oo, vice chairperson of the Muse Paddy Wholesale Center.

Myanmar urged China to buy at least one million tonnes of rice in 2015, and three Chinese companies have each agreed to buy 280,000 tonnes, according to the Myanmar Rice Federation.

In order to export rice to China, Myanmar rice exporters need certificates issued by the China Certification and Inspection Company (CCIC) after inspections. The CCIC plans to open its Myanmar office in Yangon this month.

During the 2014-15 fiscal year, border trade between Myanmar and China has increased, with the trade volume reaching a value of more than US$1 billion, according to the Myanmar Commerce Ministry.

Source: Eleven Weekly Media