Myanmar exported 2.24 million tonnes of rice and broken rice worth over $1bn in the first 10 months of the current fiscal year (April to January), according to Myanmar Rice Federation (MRF) data.
|
Month |
Volume (tonnes) |
Value |
|
April |
111,862 |
$55m |
|
May |
71,279.5 |
$36m |
|
June |
162,325.75 |
$84m |
|
July |
165,444 |
$81m |
|
August |
207,369 |
$97m |
|
September |
219,560 |
$104m |
|
October |
424,784.27 |
$189m |
|
November |
334,530 |
$156m |
|
December |
337,490 |
$145m |
|
January |
209,599 |
$101m |
Most of the exported rice was exported via sea trade, with just a small volume exported via border trade.
The MRF has set a goal of exporting 2.5 million tonnes for FY2024/25, meaning that Myanmar needs to export a total of 260,000 tonnes in February and March to achieve this target.
State media reported that the Union of Myanmar Federation of Chamber and Commerce (UMFCCI) held meeting on 9 January to discuss ways to boost rice exports and encourage warehouse operators to register with the Myanmar Rice Online (MyRO) system.
The MRF fell short of its export target of 2.5 million tonnes in FY2023/24, exporting just 1.6 million tonnes worth $845m during the period.
Exports have been hampered by various factors, notably disruptions at border gates due to civil conflict, as well as the Central Bank of Myanmar’s policy requiring 25% of export proceeds to be converted to kyat at the official reference rate.
State media recently cited MRF Chairman U Ye Min Aung as saying that while the recent floods caused by Typhoon Yagi destroyed some 5,000 acres of rice fields, Myanmar is estimated to have around 4 million tonnes of rice stocks. He said that exports will therefore not be affected.
According to data compiled by UN Comtrade, Myanmar exported around 1.6 million tonnes in full-year 2023, down 26% from around 2.1 million tonnes in 2022.
Export value, however, fell just 6%, from $786.84m in 2022 to $743.51m in 2023.
