WITH the global rice prices surging, the export rice prices surged to approximately US$600 per metric ton (MT) during the week ending 12 September 2023, the Myanmar Rice Federation’s reference rice prices indicated.
The price of Myanmar long-grain white rice (five per cent broken) was set at $525 per MT only.
At present, Aemahta, Kayinma, Tunpu and Ngasein rice varieties are designated for export markets. Rice export has not been suspended. Rice exporting companies with 100 per cent cargo readiness are processed and after pre-shipment inspection, an export licence is granted.
India’s export ban on some rice to meet domestic needs triggered growing demand in the global market. Consequently, rice-exporting countries such as Thailand, Viet Nam and Myanmar witnessed an increase in export prices.
Low-grade rice varieties such as Aemahta, Ngasein, and Sinthuka exported to China via the Muse border fetch up to 3,450-3,600 Yuan per tonne depending on the ratio of broken rice content.
From 6 and 12 September, the export prices of long grain white rice, broken rice and parboiled rice tremendously rose. The prices moved up to $600 per MT of white rice, $430-475 per MT of broken rice and $610- 640 per tonne of parboiled rice, indicating a significant increase compared to those of the previous month.
The value of Myanmar’s rice and broken rice exports totalled US$166 million from over 380,000 tonnes in the past five months (Apr-Aug) of the current financial year 2023- 2024, comprising 350,070 tonnes in maritime trade and 29,314 tonnes in border, MRF’s statistics showed.
The federation aims to achieve 2.5 million tonnes of robust rice export in the current FY, generating an income of US$1 billion.
Additionally, Shwebo Pawsan, Ayeyawady Pawsan, and Pawsan from various regions, Ayeyamin, Ayeya Padaytha, Anyatha, and Pakhan varieties that are highly consumed domestically are prioritized for the domestic market only at present. There is no export of those rice varieties and the federation is making a concerted effort with the stakeholders in the supply chain to stabilize the rice price in the domestic market.
KK
#TheGlobalNewLightOfMyanmar