Jul 20, 2015

Philippines to Import Myanmar Rice

Representatives of the governments of Myanmar and the Philippines are set to sign a memorandum of understanding (MoU) for the export of rice from Myanmar to the Philippines.

“The Philippines has shown interest in Myanmar’s rice. We are trying to export our rice to their country, which is one of the biggest rice importers in the world. Now we are closing in on a signing of MoU,” said U Ye Min Aung, general secretary of Myanmar Rice Federation (MRF).

Negotiations between relevant government departments from both sides is complemented by MRF’s engagements with Philippines’ National Food Policy (NFP).

MRF said it is pushing to finalise the rice export deal to start shipping between November and December this year.

“If we rely on only one market for rice exports, we will face challenges in the long term. It is beneficial to have multiple market access as volatility in one market can be offset by another market,” said U Ye Min Aung.

Currently China is the primary destination for Myanmar’s rice exports with smaller shipments going to Japan, Europe, Indonesia and Malaysia. The Philippines is being targeted as a new promising market.

The Philippines imports nearly two million tons of rice in average every year.

Source: Myanmar Business Today