CNI News

31 January 2024

If the rice target alone could be met, the country's economy would improve a lot, said chairman of the State Administration Council (SAC) at the meeting of the union government. 

However, businessmen pointed out that Myanmar should not depend on rice alone because there are many agricultural products in Myanmar.

Foreign currency earned from rice is less than that earned from coffee and oil crops. So, Myanmar should not depend on rice alone, U Thet Zaw, an economic commentator, told CNI News.

" In fact, there are many agricultural products that can earn more foreign currency than rice. Only if we export one ton of rice, will we get about 400 dollars. How much can we get even if we export rice by the million tons. It's not a very rich amount of money. There are not many countries that become rice from exporting rice Not many countries get rich from rice exports. Largely, various kinds of products have to be exported. There are products that earn more foreign currency than rice as well. We can earn a lot of foreign currency from exporting coffee, for example. If we can export a lot of coffee, we can earn more foreign currency than rice. In the same way, there are also many oil crops that can earn foreign currency. We should not depend on rice alone, I think." he said.

Farmers grew more rice this year because they received agricultural loans and other aids from the government and relevant businessmen. Moreover, because rice could be sold at a profitable price, farmers made a profit reportedly. 

While bags of rice are being loaded onto a container car

If the markets for agricultural products could be created, cultivation could increase and agricultural products could be exported more, said farmers.

However, if the national income has declined, it would be difficult to maintain by the rice sector alone, U THein Aung, chairman of the Farmers Development Association, told CNI News.

" What is the most important is that it is necessary to link the agricultural products with good, markets. If we could produce three tons of rice and three tons of bean in the previous years, we will be able to produce five to six tons of rice this year, I think. But if the national income has declined, We can't maintain by rice alone. In fact, the income of people working abroad is actually foreign income for this country. But it's necessary to use them systematically." he said.

In comparison with neighboring countries, Myanmar was still weak in technology and businessmen who would invest in rice cultivation were also needed, said farmers.

Vacant or virgin soil should be allowed to be used again for cultivation and inputs such as fuel and fertilizer should be able to be bought easily. 

Moreover, shallow irrigation should be repaired and the government needed to support farmers in buying agricultural machines, said farmers.