Myanmar earned 80m USD monthly from rice export; no restriction imposed on exporters
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Hsu / Yoon (NP News) - Feb 27
According to the #Myanmar_Rice_Federation (MRF), monthly earning from #rice_export for the country is up to 80m USD; which generates estimate 800m USD annually from the rice export.
Ye Min Aung, the chairman of the MRF, said: “We have plan to export 2 million metric ton of rice at a monthly basis. It will generate approximately 700m or 800m USD annually. For this year, the rice price has increased a bit. Therefore, we earned about 800m USD for earning for this year.”
He continued that no limitation is imposed relating to the rice export.
“Relating to export, there are currently altogether 40 to 50 companies running on regular basic. Anyone can do the rice export business. Therefore, I want to explain the wrongful information that only this company or that company can make the export. Here, I want to clarify that there is no restriction or limitation concerning with the rice export though some countries have limitations.” he said.
However, the companies those want to export rice need to possess rice mill and the warehouse. New companies which plan to export rice will have to show the trading contract and shall possess the necessary infrastructure.
There are altogether 50 local companies exporting rice and the MRF project to export 2m metric ton of both rice and broken rice for this fiscal year. A total of 1.9m tons of rice was exported as of January this year. European countries and China mainly purchase rice and broken rice from Myanmar.