CNI News
19 Oct 2022
Myanmar has been exporting between 20 to 30 truckloads of rice and broken rice to China every day, according to Muse Rice Commodity Exchange.
As it is the beginning of the dry season and new paddy is being harvested, rice exports have increased, Vice Chairman U Min Thein of the Muse Rice Commodity Exchange told the CNI.
“Paddy is harvested in all regions in the lower Myanmar and other various parts of the country after the Thadingyut Festival. Trading activities in China have also returned to normal. So, more rice and broken rice have been exported to China than before the festival since 10th October. About 1,000 bags of rice and broken rice or between 20 and 30 truckloads (50 tons) of rice is exported to China every day. A bag of broken rice fetches Yuan 120 and a bag of rice stands between Yuan 140 to 150. It is profitable for us because we can export rice to China when the crop is harvested in Myanmar,” he told the CNI.
Before the festival, Myanmar could export only about five to ten truckloads of rice to China.
Rice prices normally fall when paddy is harvested but this year, rice prices have not dropped as the plans are underway to export 200,000 tons of rice to Bangladesh, U Min Thein added.
Rice trading. (CNI)
“Normally, rice prices fall back when new paddy is harvested but rice prices are stable this year because plans are underway to export 200,000 tons of rice to Bangladesh. It will be profitable for farmers. We have to buy rice at MMK 45,000 per bag while broken rice is purchased at MMK 40,000 per bag,” he told the CNI.
As the prices of export rice such as 90-day variety and Emata 25-mark variety do not fall back, those of Paw San Hmwe variety have not dropped, according to rice merchants.
Although paddy from Ayeyarwady is being harvested, the most popular rice for local consumption like Shwebo Pawhsanhmwe has not been harvested, Ko Shine Win Latt of Shwebo Paw San Hmwe told the CNI.
He told the CNI, “Shwebo Pawhsanhmwe has not been harvested. So, prices for Ayeyarwady and Shwebo Pawhsanhmwe have not fallen.”
Rice from Ayeyarwady Region is being transported to Bayintnaung Commodity Exchange daily but officials from the commodity exchange refused to disclose the volume.
The total acreage of paddy dropped last year due to rising prices of inputs such as fertilizers and fuel as well as instabilities in some areas.
