Favorable prospects for Myanmar's rice export market
Bright prospects for Myanmar's rice exports
According to a survey by the Union of Myanmar Federation of Chambers of Commerce and Industry, in October 2009 the export price of Myanmar rice was 310 USD per ton, down 17% from a year earlier. Since rice export prices from Thailand and Vietnam currently generally range from 360 to 1600 USD per ton, Myanmar rice still has a certain competitive advantage, and its export prospects are promising.
In fiscal year 2008-09, Myanmar exported 670,000 tons of rice; in the first 6 months of fiscal year 2009-10, it had already exported more than 500,000 tons, and it is estimated that exports for the entire fiscal year will reach 1 million tons.
Myanmar rice has already been exported to about 20 countries, of which 85% goes to Bangladesh, South Africa and Cote d'Ivoire.
Statistics from the Myanmar Rice and Paddy Traders Association show that Myanmar currently consumes 11.76 million tons of rice per year, with an existing rice surplus of 3.24 million tons.
In fiscal year 2008-09, Myanmar exported 670,000 tons of rice; in the first 6 months of fiscal year 2009-10, it had already exported more than 500,000 tons, and it is estimated that exports for the entire fiscal year will reach 1 million tons.
Myanmar rice has already been exported to about 20 countries, of which 85% goes to Bangladesh, South Africa and Cote d'Ivoire.
Statistics from the Myanmar Rice and Paddy Traders Association show that Myanmar currently consumes 11.76 million tons of rice per year, with an existing rice surplus of 3.24 million tons.