Indonesia is the largest importer of Myanmar’s rice, with over 210,000 tonnes in the first half of the current financial year 2024-2025, beginning 1 April, according to the Myanmar Rice Federation (MRF).
By Nyein Nyein, October 25, 2024
https://www.gnlm.com.mm/indonesia-leads-myanmar-rice-imports-in-h1/
Myanmar conveyed over 217,600 tonnes of rice and broken rice to Indonesia, over 209,000 tonnes to China, over 162,900 tonnes to Belgium, over 72,600 tonnes to the Philippines, over 27,100 to Cameroon, over 26,500 to Mozambique, over 19,500 to Spain, 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 to foreign countries reached over 930,000 tonnes worth US$458 million in H1.
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 federation is projected to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating 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 chairperson of the Myanmar Rice Federation said.
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