Myanmar has exported over 1.7 million tonnes of rice and broken rice in the first eight months of the 2024-2025 financial year, generating an estimated $804 million, according to data from the Myanmar Rice Federation (MRF). The financial year began on 1 April.

Export volumes showed steady growth from April to November, peaking at 424,784.27 tonnes in October, which generated $189 million. The majority of exports, over 1.6 million tonnes, were transported by sea, with an additional 30,000 tonnes exported via border routes.

The MRF has set an ambitious target of 2.5 million tonnes of rice exports for the current financial year, aiming to generate total earnings of one billion dollars. To support this goal, the Ministry of Commerce is working closely with the Union of Myanmar Federation of Chambers of Commerce and Industry, along with other trade associations. These efforts also aim to facilitate exports of other key commodities, including pulses, corn, rubber, and fisheries products.

Despite these initiatives, Myanmar faces challenges in reaching its export targets. In the 2023-2024 financial year, rice exports fell short of the 2.5 million-tonne goal, totaling only 1.6 million tonnes, valued at $845 million. Exporters attribute this shortfall to restrictive monetary policies imposed by the Central Bank of Myanmar, which control export earnings, and to disruptions in rice production caused by the El Niño weather phenomenon.

In comparison, the 2022-2023 financial year saw exports of 2,261,203 tonnes of rice and broken rice, valued at approximately $853.472 million. Despite current challenges, the government and industry stakeholders remain committed to meeting this year’s export targets through enhanced collaboration and better support for exporters.

Source and Photo Credit: The Global New Light of Myanmar