Myanmar Rice Traders Association’s secretary, Mr. U Aung Myint, said that the volume of rice exports during this Fiscal Year was down by about 400,000 tonnes when compared to that of last FY due to lower exports to the Chinese and European markets. About 900,000 tonnes of rice has been exported and a total of about 1 million tonnes of rice is expected to be exported by the end of this FY. The drop in export volume is due to merchants earning fewer profits between the market price of rice in the domestic market and the purchase price, plus the transportation cost. Apart from this, the confiscation of the rice quantities by China authorities resulted in the decrease in rice exports to China.
The low-quality rice from Myanmar that went into Europe and China through normal trade was offered at US$315 per tonne in 2015 whereas this year, the export price is around US$ 280-300 per tonne. In comparison the good quality rice fetches about US$ 345 per tonne. Previously, Myanmar’s rice export market was solely dependent on China but it has now found new market destinations in Africa. But the businessmen cannot export larger volumes if they are making only a small profit, informed U Aung Myint. According to an announcement released by the Ministry of Commerce, Myanmar exported 1.4million tonnes of rice in 2012-2013 FY, 1.2million tonnes in 2013-2014 FY, and 1.8million tonnes in 2014-2015 FY and about 1.4million tonnes in 2015-2016 FY.