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Myanmar plans to curb rice exports as domestic prices rise

Myanmar is planning to temporarily restrict rice exports for about 45 days from the end of August as rice prices in the country is rising.
Myanmar plans to curb rice exports as domestic prices rise ảnh 1Myanmar workers load rice onto a truck in Yangon. (Photo: AFP/VNA)

Hanoi (VNA) – Myanmar is planning to temporarilyrestrict rice exports for about 45 days from the end of August as riceprices in the country is rising.

A senior member of the Myanmar Rice Federation has told Reutersabout the plan, adding that rising domestic prices was prompting authorities tolimit exports.

According to the US Department of Agriculture's data, Myanmar isthe world’s fifth-largest rice exporter, selling more than 2 million tonnes ayear,

Last month, India banned exports of non-basmati white rice,reducing supplies on the global market by about 10 million tonnes, or 20%.

Global rice prices offered by leading exporters, includingThailand and Vietnam, have climbed since India’s ban on July 20.

Meanwhile, rice importers, including the Philippines andIndonesia, are rushing to boost purchases as a dry El Nino weather pattern isexpected to reduce production./.

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