MYANMAR EARNS OVER 1.1 BLN USD FROM RICE EXPORT IN FY 2017-18

YANGON, Myanmar April 7 (NNN-Xinhua) — Myanmar has earned over 1.11 billion U.S. dollars from rice and broken rice export, which is a major agricultural product, in the fiscal year 2017-2018 which ended in March, the Myanmar Rice Federation said Saturday.

From April 1, 2017 to March 23, 2018, a total of 2.89 million tons of rice and 620,696 tons of broken rice were exported to foreign countries via border gates and sea route.

In the past consecutive years, the country exported high volumes of rice – 1.8 million tons in FY 2014-15, 1.4 million tons in FY 2015-16 and 1.7 million tons in FY 2016-17.

About 60 percent of the Myanmar’s rice exports predominantly go to neighbouring China, mainly through border gates while demand for the country’s rice also comes from Asian countries, EU member states and some African nations.

In accordance with the figures from the Commerce Ministry, Myanmar earned 2.93 billion U.S. dollars from agricultural products as of March 23 in FY 2017-18.

Apart from rice export, the country is trying to promote other export products, including peas and pulses, fisheries products, textiles, timber and forest products, rubber and tourism to narrow its trade deficit. — NNN-XINHUA

Source: NAM News Network