Business — Burmese rice exports down by nearly a third

Rice exports have dropped by 30 percent in the 2013-14 fiscal year, compared to the year before, Trade and Commerce Minister Win Myint announced on Wednesday. According to the Myanmar Rice Association, 1 million tons of rice has been exported in 2013-14, down from 1.4 million tons in 2012-13. The Association believes this is due to both a low yield and a decrease in demand from China. Burma was the world’s largest rice exporter from 1961 to 1963. The Burmese financial year ends on 31 March.