Myanmar to keep up rice exports
Play
Myanmar will continue exporting rice even though its production is likely to drop due to floods, the Myanmar Rice Industry Association (MRIA) said recently.
This year’s monsoon paddy production is expected to drop since many parts of lower Myanmar were hit by torrential rains inundating more than 200,000 hectares of rice fields. Upper Myanmar, meanwhile, is suffering from a severe drought making it difficult to grow crops. Yet, Myanmar – which used to be one of the world’s rice exporters – will be able to keep up its rice exports because it still has a large reserve, an MRIA official said.
“Harsh climate can lead to low output this year, but we plan to continue exporting. Domestic rice prices are not a concern as we have a reserve and are ready to distribute in times of emergency. We also plan to make sure the price remains stable,” MRIA chairman U Chit Khaing said.
An official from the Commerce Ministry, meanwhile, assured rice exporters that the ministry would continue issuing export licences, but the amount of rice to be eventually exported will be decided after negotiations between the ministry and exporters, he said.
According to statistics, Myanmar has exported 427,500 tonnes of rice worth more than US$161 million (Bt5 billion) as of August 10.
