Price of exported rice from Myanmar remains high despite decreased export prices of other countries

According to reports from the rice market, the price of rice exported from Myanmar did not drop, while the prices of rice exported from Thailand and Viet Nam were falling this month.
Although a tonne of white rice with 5 per cent of exports was priced at US$646 on 4 September in Thailand, which is the second largest exporter of rice, it decreased to $612 per tonne on 25 September. Other varieties of rice also dropped by $10 to $27 per tonne between 4 and 25 September.
On 4 September, a tonne of exported rice from Myanmar was $585-595 for rice with 5 per cent of exports and $545-555 for rice with 25 per cent of exports, and they fell to $590-600 and $555-560, respectively, on 25 September. According to the statistics, the price of export rice did not fall but rose slightly.
Due to the El Nino weather conditions that will be experienced in 2023, there are concerns that rice production may decrease. Therefore, rice sales have decreased in most of the world’s rice-exporting countries. The demand for rice has also fallen, and the price of rice exports has decreased in most countries.
In the first five months of the 2023-2024 financial year, Myanmar exported 379,384 tonnes of rice and rice products valued at $166 million, which is around 500,000 tonnes less than the same period last year.
However, a total of 200,000 tonnes in October and 250,000 tonnes each in November and December are scheduled to be exported abroad. A total of two million tonnes of rice will be exported abroad in the 2023–2024 financial year, according to rice organizations. — TWA/CT