Myanmar’s Rice Export Surpasses Expectations in January 2024
Yangon, Myanmar (7/02/24)
In a recent report by the Myanmar Rice Federation (MRF), it has been revealed that Myanmar experienced a notable increase in rice and broken rice exports during January 2024. According to MRF data, the country exported a total of 213,605 Metric Tons of rice and broken rice within this period. Notably, this export activity engaged 27 countries, including significant importers such as China, the Philippines, Indonesia, Spain, Britain, and Vietnam.
The financial implications of this surge are significant, with Myanmar earning a total revenue of 111 million U.S. dollars solely from rice exports in January. This figure underscores the substantial contribution of the rice industry to Myanmar’s economy.
Of particular interest is the fact that the actual export volume far surpassed initial projections. The MRF had initially estimated that Myanmar would export approximately 150,000 Metric Tons of rice and broken rice during January, February, and March combined. However, the country exceeded this forecast by exporting over 200,000 Metric Tons in January alone, highlighting the robustness of Myanmar’s rice export sector.
In response to this surge in exports, the current military regime has expressed a commitment to ensuring a balance between export demands and domestic consumption. Efforts are underway to implement measures aimed at safeguarding the availability of rice for local consumers while simultaneously capitalizing on export opportunities.
The remarkable performance of Myanmar’s rice export sector in January 2024 not only underscores the resilience of the industry but also presents opportunities for further economic growth and development. As Myanmar navigates its export policies amidst global demand fluctuations, stakeholders will continue to monitor and adapt to ensure the sustainable growth of the rice sector while meeting the needs of both domestic and international markets.
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