Published on Wednesday, 26 December 2012 13:46
Myanmar has earned more than US$340 million from rice export three months ahead of the end of 2012-13 fiscal year, according to the Ministry of Commerce.
The country’s rice export volume three months ahead of the end of the fiscal year has already surpassed the total export volume of the previous fiscal year, the ministry said.
By December 14, Myanmar had exported over 874,000 tons of rice worth US$ 343 million, up from the 791,087 tons in the 2011-12 fiscal year.
“We have already exported almost 900,000 tons of rice, mainly to China, the Philippines and Africa,” an official from the ministry said.
Myanmar rice is exported to foreign countries by sea and through border gates.
Indonesia will buy up to 500,000 tons of rice from Myanmar, chairman Chit Khine of Myanmar Rice Industry (MRI) said.
The MRI expects to export up to 1.5 million tons of rice in fiscal 2012-13.
Myanmar ranked the eighth position in the world with rice export volume of 790,000 tons in 2011. If Myanmar manages to export 1.5 million tons, it will rise to the fifth, surpassing Uruguay, Cambodia and Brazil, according to a report by the ministry.
Business Latest News
- Myanmar to legislate on computer software
- Muse bus station complex to open next year
- Thai event business helps Myanmar kick off SEA Games
- Unilever receives licence to open Myanmar branch
- Construction permits available online by 2014
- Joint venture to invest Ks 32 billion in stock exchange
- Yangon Stock Exchange to open in two years - Deputy Minister
- Chinese companies to invest in various industrial projects
- Myanmar calls to end illegal timber trade with China
- Myanmar urges China to invest in Kyauk Phyu SEZ