Growth in the value of the dollar in foreign exchange markets leads to an increase in Myanmar rice exports compared to the previous fiscal year, said U Ye Min Aung, general director of Myanmar Agricultural Corporation (MAPCO) and secretary general of the Federation Of Myanmar Rice (MRF).
According to March 3, the export of rice in Myanmar increased by about 25000 tonnes compared to the amount of exports in the fiscal year 2015-16, he said. Exports of rice this year are likely to increase to almost 1.5 million tonnes, he said, as the closing act of the rice sector export course, March 13.
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“We can export around 1.5 million tons a year, this proves that the proposal is enough rice for domestic consumption and request from Sri Lanka and China are also increasing. Is that the exchange rate helps the exporters to make a healthy income and pushes them to export more, “- said U Ye Min Aung.
China is beginning to examine rice exported to the other side of the border in this fiscal year – rice exports across the border area is declining. In the past, the annual export of rice through the border area was more than 900 000 tonnes. In the current fiscal year, exports across the border was only 600 000 tons and 100 000 tons of cargo containers” said U Toe Aung Myint, Permanent Secretary of the Ministry of Commerce.
“After the improvement of rice exports from the private sector is mainly due to cross-border exports. This year, exports through cargo containers increased through the connection of individual entrepreneurs,” – he said.
In fiscal year 2016-17, exports of goods amounted to almost 600 000 tonnes, and cross-border trade has fallen to about 900 000 tonnes.