In the first two months of the 2021-2022 half-year budget, more than 500,000 tonnes of Burmese rice and broken rice were exported, according to the Myanmar Rice Federation.
According to the Myanmar Rice Federation (MRF), 32 companies exported more than 210,000 tonnes of rice and broken rice in October, the first month of the first half of the semi-budget, and 34 companies exported more than 280,000 tonnes in November.
During those two months, more than 470,000 tonnes of rice and broken rice were exported through maritime trade. Nearly 30,000 tonnes are exported across the border to neighboring countries.
In November, foreign purchases of Burmese rice rose by about 80,000 tonnes from October. The Kovis epidemic has pushed down exports across the Chinese border but boosted maritime exports.
According to a rice trader, the increase in volume due to the scarcity of containers in the sea trade and high rents may have led to an increase in ship-to-ship shipments.
In addition, a rice trader said that foreign buyers were buying more this year because traders were calculating the value of the dollar and selling Burmese rice at a discount below international prices.
“It simply came to our notice then. Vendors benefit from the price of raw rice they buy and the price they sell. Bidders are not selling because there are no buyers. The seller will provide you genuine articles as he does not want to tarnish his own image. Those who can not sell cannot sell. ”
In the international rice market, Myanmar rice prices are lower than those of other rice exporters, such as Thailand and Vietnam.
According to the Myanmar Rice Federation (MRF), the current international price of rice in the international rice market is between US $ 262 and US $ 426 per tonne, depending on the type and quality.
Myanmar exported more than 2.5 million tonnes of rice and broken rice in the 2019-2020 fiscal year, earning around US $ 800 million in export revenue.