China leads Myanmar’s rice imports with 91,000 tonnes in Q1

China holds the title of Myanmar’s largest rice importer with over 91,500 tonnes in the first quarter (April-June) of the current financial year 2024-2025, followed by Indonesia with over 84,300 tonnes and Belgium with over 53,200 tonnes, Myanmar Rice Federation’s statistics showed.
Additionally, over 23,500 tonnes were exported to Spain and 10,000 tonnes to Italy.
Myanmar shipped over 345,467.3 tonnes of rice to external markets in Q1 this FY, generating earnings of $175 million.
The federation earmarks to achieve over 2.5 million tonnes of rice exports in the 2024-2025 financial year (April-March).
Ministry of Commerce is working together with the Union of Myanmar Federation of Chambers of Commerce and Industry, 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 was set to achieve 2.5 million tonnes of rice export in the FY 2023-2024, generating earnings of one billion dollars. 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 chairperson of the Myanmar Rice Federation affirmed.
Myanmar exported 2,261,203 tonnes of rice and broken rice to foreign trade partners in the 2022-2023 FY (April 2022-March 2023), with an estimated value of $853.472 million. — NN/KK