Myanmar earns over US$300 million from rice export in 1st 10 months of FY

Myanmar exported over 1.2 million tons of rice in nearly 10 months of the current fiscal year 2016-17 as of January, earning 376 million U.S. dollars, according to the figures of Ministry of Commerce of Myanmar Wednesday.

Of the rice export, 68 percent or 800,000 tons were done through border trade, while over 400,000 tons were sold through normal trade.

About 80 percent of the country’s rice export went to China mostly through border trade. Other exporting countries and regions are Indonesia, Singapore, European Union, Africa, Russia and Brazil.

Meanwhile, Pakistan and the Philippines have proposed to Myanmar to purchase the country’s rice under government-to-government system, while negotiations are underway to boost rice export to Sri Lanka and Indonesia.

The country exported 767,753 tons of rice in the last fiscal year 2015-2016. Enditem

Source: Xinhua/NewsGhana.com.gh