In just 11 months, Myanmar’s rice exports reach $712 million

According to the Myanmar Rice Federation, during the first 11 months of the current financial year 2023–2024, which began on April 1, Myanmar exported 1.42 million tonnes of rice and broken rice, valued at US$712 million. This amount was made up of 1.343 million tonnes through seaborne trade and over 85,000 tonnes through land borders. in April 2023, 87,648 tonnes valued at $36 million; in May, 110,706 tonnes valued at $48 million; in June, 62,725 tonnes valued at $28 million; in July, 58,334 tonnes valued at $26 million; in August, 59,971 tonnes valued at $28 million; in September, 84,773 tonnes valued at $42 million; in October, 119,526 tonnes valued at $63 million; in November, 175,990 tonnes worth $90 million; and in December, 195,829 tonnes valued at $99.

 

As a result, February saw the largest rice export volume, followed by January and December. Statistics revealed a decline in June, July, and August. In the current fiscal year, the federation hopes to export 2.5 million tonnes of rice and earn $1 billion. In the current fiscal year, the federation hopes to export 2.5 million tonnes of rice, earning $1 billion in revenue.

 

As a result, Myanmar’s rice exports do not meet the goal. The monetary policy implemented by the Central Bank of Myanmar to regulate export revenues hindered the export of rice, causing financial harm to exporters. According to the president of the Myanmar Rice Federation, the El Nino weather pattern also made it difficult to export rice.
In the most recent fiscal year (2022–2023), Myanmar exported 2,261,203 tons of rice and broken rice, valued at an estimated $853.472 million, to its trading partners abroad. In the 2021–2022 FY, rice exports totaling about 2.164 million tonnes brought in roughly $809.135 million for Myanmar.

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