Mizzima

The rice commodity exchange in Muse said that they expected normal rice exports to China through the Muse border trade post in the coming October.

The border trade rice export fell recently as they had to reduce the export in the wake of rising prices in the domestic market and they hoped that they could resume the normal rice export in the coming October, the exchange sources said.

Previously about 20 truck-loads of rice and broken rice used to enter China daily through this border post and now this number is reduced to merely two trucks.

The trade figures released by the Myanmar Rice Federation (MRF) show that Myanmar rice and broken rice export prices are rising in export to international buyers.

The prices of rice varieties such as Emata, Ngasein/Yarkyaw and Sin Thukha being exported to China have reached the highest mark of CNY 3,600 per tonne from the previous CNY 3,450.

The rice prices are rising in the global market after the export ban of rice by the largest exporting country India and then the prices of rice from the major producers and exporters Thailand, Vietnam and Myanmar are also rising in the world market.

Myanmar rice export fell by 56% in the past four-month period. 

From April to August in this financial year, Myanmar exported 380,000 tonnes of rice and earned US$166 million from these exports, MRF trade data say.