Burma’s rice exports up 41 percent

Burma’s rice exports up 41 percent

Burma has exported around US$196 million worth of rice from 1 April to 15 August 2014, up 41 percent from around $139 million exported during the same period in the last fiscal year, according to local sources. Burma, officially known as Myanmar, exported around 530,000 tons of rice between 1 April and 15 august, a Commerce Ministry official was quoted as saying.

Sources at the ministry told local sources that the rise in exports is mainly due to increased demand from Russia. However, Burma’s rice exports to China have suffered since the beginning of the fiscal year due to a freeze in official exports through the Muse border by Chinese officials. Authorities from both countries are reportedly discussing a new trade agreement that will allow hassle-free exports from Burma to China.

[related]

DVB reported last week that Chinese officials will enter discussions geared towards allowing the legal import of Burmese rice, according to Yu Ding Cheng, chairman of the Chamber of Commerce in Yunnan.

Seizures of illegal rice have led to a steep decline in value. Yu Ding Cheng said that he met with Burma’s Federation of Chambers of Commerce in efforts to boost cross-border trade on 14 August. The Myanmar Rice Federation said that they do not expect to meet this year’s target of exporting two million tons of rice, as value and demand have both dropped.

These exports figures were originally published on www.oryza.com. Oryza is a leading source in the rice industry and a media partner of DVB.

Leave a reply