Indonesia tops Myanmar rice imports in Apr-Nov
Indonesia has become Myanmar’s top rice trading partner, importing over 480,000 tonnes from April to November 2024. China follows with 355,000 tonnes. Myanmar’s total rice exports reached 1.7 million tonnes, valued at $804 million. The country aims for 2.5 million tonnes in exports for the 2024-2025 financial year.
Indonesia is the largest rice trading partner of Myanmar with over 480,000 tonnes in the past eight months of the current financial year 2024-2025 beginning 1 April, according to Myanmar Rice Federation (MRF).
China is the second largest importer of Myanmar rice with over 355,000 tonnes, followed by 246,900 tonnes to Belgium, over 128,300 tonnes to the Philippines, over 44,300 to Senegal, 43,100 to Mozambique, 37,000 to Cote d’Ivoire, 30,000 to Spain, over 27,100 to Cameroon, 17,500 to the Netherlands, over 13,900 to Ivory Coast, over 13,300 to Italy and over 12,300 to Poland.
Myanmar’s rice and broken rice exports reach 1.7 million tonnes during April-November period, with an estimated value of US$804 million, statistics of MRF showed.
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 monthly export targets and beyond, depending on supply volume of rice, broken rice, pulses, corn, rubber and fisheries from the respective companies.
The Ministry of Commerce is working together with the Republic of 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 federation was projected to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of one billion dollar. However, rice exports fell short of 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, as affirmed by the Myanmar Rice Federation chairperson.
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
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