The Federation has finalized an agreement with the Ministry of Commerce to lift restrictions, which currently only allow a maximum of 500 tonnes were exported through land borders only with permission of Naypyitaw, leaving 2 percent of rice for consumption procedure.
“Rice export was banned because of the floods across the country, and resumed with some restrictions until September 15 rice harvested during the rainy season coming on the market soon, so we have enough supplies. The restrictions were difficult for farmers, so we tried to alleviate those restrictions as soon as we thought it was safe to do so, “said U Nay Zin Lin, Secretary of the Myanmar Rice Federation.
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Vice Ministry of Commerce, the economic advisors of the president, and representatives of the Federation of Myanmar Rice met last month and agreed to release the restrictions.
Councillor Dr Maung Aung Commerce Department said today Myanmar, “We have agreed to release the restrictions in October. We had to put these restrictions in order to keep prices stable rice.”
Because of the floods across the country Myanmar, rice exports stopped for 45 days.
It is estimated that Myanmar exported over two million tons in 2015-16 fiscal year. A total of 439.800 tons were exported in the first four months of the current fiscal year from April, which earned $ 160 million, according to Ministry of Commerce statistics.
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