Myanmar: Rice export drops in first half of fiscal 2015
Myanmar’s rice export fetched 185.84 million USD in the first half of the fiscal year 2015, down 60 million USD from the same period last year.
Illustrative Image (Source :ibtimes)The country exported a total of 507,624 tonnes of rice from April 1 to October 9, down 150,000 tonnes from the same fiscal year 2014.
Myanmar mainly exported rice to China, accounting for 422,044 tonnes of rice in the reviewed period.
The country resumed its rice exports in September after imposing a one and a half month freeze aimed at maintaining price stability and local self–sufficiency in the wake of the widespread flood.
MRF’s Vice President Soe Tun said Myanmar cannot meet its rice export target for this year and the country’s rice production will reach only about 1-1.5 million tonnes, compared to the 1.83 million tonnes in 2014.-VNA
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