Home MMBIZ News Rice Export Falls by $100 million

Rice Export Falls by $100 million

Myanmar’s rice export earnings dropped by more than $100 million in the first eight months (April-November) of the current 2013-14 fiscal year, ministry of commerce data shows.  
During the period, Myanmar exported about 451,728 tonnes of rice, earning $175.54 million, while in the same period of the previous fiscal Myanmar exported 731,201 tonnes of rice, bagging $276.17 million.
The decline was partly attributed to natural disasters that hit the country this year, and the price increase of rice in the domestic market.
“This year our local rice production has decreased and the local rice prices have gone up,” Dr Soe Tun, secretary of Myanmar Rice Association, said.
“Also, last year it was possible to export rice with special orders but this year we didn’t have the facility. So, the export figure has gone down.”
Although rice and paddy export has hit a snag, broken rice exports have gone up, rice traders say.
There are seven kinds of major agro export items in Myanmar including rice and rice products, and various kinds of beans.

- Advertisment -

Must Read

KBZ Bank branch in Yangon downtown area robbed

A KBZ Bank branch located on the Maha Bandoola Road between 47th and 48 streets was robbed by a group of masked robbers this...