Belgium leads Myanmar rice imports in first 5 months this FY
September 26, 2024
Belgium is ranked first in leading countries that import Myanmar’s rice and broken rice, with over 162,900 tonnes in the first five months of the current financial year 2024-2025, beginning 1 April, according to the Myanmar Rice Federation (MRF).
China is placed as the second largest buyer of Myanmar rice, with 157,200 tonnes, followed by Indonesia, which has over 145,000 tonnes.
Myanmar also sent 26,500 tonnes of rice to Mozambique, over 19,500 tonnes to Spain and 16,500 tonnes to the Netherlands.
Myanmar’s rice and broken rice exports hit over 718,000 tonnes in April-August 2024, with an estimated value of $353 million.
The federation aims to achieve 2.5 million tonnes of rice exports in the 2024-2025 financial year (April-March).
The Ministry of Commerce has been cooperating with departments and institutions concerned to achieve export targets and beyond depending on the supply volume of rice, broken rice, pulses, corn, rubber and fisheries from the respective companies.
Ministry of Commerce is working together with the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Rice Federation, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association, Myanmar Garment Manufacturers Association, Myanmar Industries Association, Myanmar Rubber Planters and Producers Association, Myanmar Fisheries Products Processors and Exporters Association to meet monthly export targets and facilitate exports.
The Central Bank of Myanmar’s monetary policy to control export earnings impeded rice exports, hurting exporters financially. The El Nino weather condition also hampered rice export, the chairman of the Myanmar Rice Federation affirmed.
The federation aimed to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of one billion dollars. However, rice exports fell short of the target with 1.6 million tonnes worth $845 million.
The Central Bank of Myanmar’s monetary policy to control export earnings impeded rice exports, hurting exporters financially. The El Nino weather condition also hampered rice export, the chairman of the Myanmar Rice Federation affirmed.
Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the past 2022-2023 FY (April-March), with an estimated value of $853.472 million. — NN/KK