MYANMAR has been discussing with Bangladesh to export 200,000 tonnes of rice again under the government-to-government pact, according to the Myanmar Trade Promotion Organization.

A work coordination meeting was held on 13 November 2024 to export 200,000 tonnes of rice to Bangladesh under a Memorandum of Understanding (MoU) between Myanmar and Bangladesh for rice export in the 2024-2025 financial year.

The director-general of the Myanmar Trade Promotion Organization under the Ministry of Commerce, the president of the Myanmar Rice Federation and a delegation led by the Permanent Secretary of the Ministry of Food of Bangladesh discussed a rice sale contract of 200,000 tonnes including price.

Bangladesh government signed the MoU with Myanmar in September 2022 to import 250,000 tonnes of rice and 50,000 tonnes of parboiled rice from 2022 to 2027.

The federation aims to achieve 2.5 million tonnes of rice exports in the 2024-2025 financial year (April-March). More than 1.36 million tonnes of rice and broken rice worth US$647 million have been delivered as of 31 October.

The Ministry of Commerce has been cooperating with departments and institutions concerned to achieve export targets and beyond depending on the supply volume of rice, broken rice, pulses, corn, rubber and fisheries from the respective companies.

Ministry of Commerce is working together with the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Rice Federation, Myanmar Rice Federation, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association, Myanmar Garment Manufacturers Association, Myanmar Industries Association, Myanmar Rubber Planters and Producers Association, Myanmar Fisheries Products Processors and Exporters Association to meet monthly export targets and facilitate exports.

The federation is projected to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of US$1 billion. However, rice exports fell short of the target with 1.6 million tonnes worth $845 million.\

The Central Bank of Myanmar’s monetary policy to control export earnings impeded rice exports, hurting exporters financially. The El Nino weather condition also hampered rice export, the MRF chairperson affirmed.

Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the past 2022-2023 FY (April-March), with an estimated value of $853.472 million.

NN/KK

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