2017 Rice Exports: Higher Than Expected
Recent News

Rice exports in the first five months of the current fiscal year are up by 960,000 tons and $214 million from last year, according to the Ministry of Com­merce.

In the same period of the 2016-2017 fiscal year, Myanmar traders ex­ported 400,000 tons and generated $161 million in trade revenue. This year 1.36 million tons of rice have been exported and over $375 million has been made.

Perhaps the most sig­nificant contributing fac­tor to this boom, is the expansion of export des­tinations, primarily to the African continent.

In 2017 rice was export­ed to 53 countries versus only 31 countries in 2016.

Among the new 22 trade destinations, 15 are Afri­can countries Guinea-Bis­sau, Mauritius, Guinea, Togo, Benin, Senegal, Dji­bouti, Niger, Ivory Coast, Gambia, Ghana, Kanya, Mauritania and Nigeria.

However, China, Bel­gian, Bangladesh, and Madagascar remain the primary importers of My­anmar’s prized export.

“We expect to export 2 million tons of rice in the 2017-2018 fiscal year. Reaching that target is very much within our sights given the data re­leased regarding the first five months. This year we are exporting both white and parboiled rice,” U Khin Maung Lwin, Dep­uty Permanent Secretary of Ministry of Commerce, said.

In early September, My­anmar signed a memo­randum of understanding (MoU) with Bangladesh to export 300,000 tons of rice annually. The govern­ment is actively pursuing similar government-to-governmnet deals be­cause of their guaranteed security and ease of coop­eration.