Myanmar’s rice export through border trade channel showed a drastic plunge in the current fiscal year, according to the figures released by the Myanmar Rice Federation (MRF). Myanmar primarily exports rice to China through the border gates. However, trade in agricultural products were halted on account of China clamping down on illegal trade in border gates. At present, the rice export to China went through government-to-government (G2G) agreement pact and barter system in exchange of Chinese goods.
Earlier, border trade was relatively high compared to sea trade in rice export. Nevertheless, border trade accounts for only 30.4 percent of the total rice export this FY, while maritime trade constitutes 69.59 percent. Between 1 October 2018 and 19 July 2019, rice export through border gates earned an estimated $173 million, whereas the sea trade saw an income of $400 million, the data of the Commerce Ministry showed. The volume of rice and broken rice export as of 19 July was estimated at 1.89 million metric tons, earning over US$573.28 million., according to an announcement of Myanmar Rice Federation (MRF).
China, which accounts for 32.89 percent of total rice export is the main buyer of Myanmar’s rice, followed by the Philippines and Cameroon in the second and third places respectively. Additionally, Côte d’Ivoire is ranked at the fourth place while Madagascar is the fifth-largest buyer of Myanmar rice. European Union countries account for over 20 percent of export, while 26 percent of Myanmar’s rice export goes to African countries.
Myanmar’s broken rice are mostly exported Border trade accounts for 30.4 percent of total rice export in the current fiscal year to Belgium, followed by Indonesia, China, the Netherlands, and the UK. It is placed on 34 foreign markets. Myanmar shipped 3.6 million tons of rice to foreign countries in the 2017-2018 Fiscal Year, which is the all-time highest record of rice export.
Ref;GNLM News/Photo Credits