YANGON - The Philippines has offered to buy Myanmar rice through a government-to-government deal, according to the commerce ministry.
Khin Maung Lwin, the ministry’s assistant secretary, said: “The Philippines proposed the purchase to the Myanmar Embassy, requesting to buy rice from Myanmar. Normally, the Philippines imports rice from Vietnam. It can be said that we may overtake Vietnam if [the deal] materialises.”
Indonesia has also offered to buy 300,000 tonnes of rice from Myanmar. In early 2016, Myanmar’s first-ever rice exports to Indonesia faced difficulties due to pest infestation.
According to the Myanmar Rice Federation, Myanmar and the Philippines will sign a contract soon.
Myanmar has planned to raise rice exports and diversify the destinations from just China. The country is also making efforts to export rice to new markets in addition to neighbouring countries, the EU and Africa.
In the 2016-2017 fiscal year which will end March 31, 2017, Myanmar has earned more than US$86 million from the export of over 254,000 tonnes of rice and broken rice.