Plans are underway to introduce contract farming into 300,000 acres of farmlands, in order to grow monsoon and paddy for the 2017-2018 fiscal year, said an official from the Myanmar Rice Industry.
Myanmar expected to export 2 million tonnes of rice to foreign markets during 2017-2018 fiscal year. So to meet this expectation, contract farming and integrated farming methods must be developed on a basis of joint venture, Ye Min Aung, the general secretary of MRI, said.
The MRI is required to negotiate with the farmers from different regions to introduce contract farming. It is expected that the monsoon and summer paddy will be grown on 300,000 acres of farmland on a basis of contract farming during 2017-2018 fiscal years. The monsoon paddy will be about 150,000 acres and the rest will be summer paddy, Ye Min Aung said.
He added that the MRI would develop contract farming system through systematic techniques to help support the agriculture sector.
Myanmar managed to export more than 1 million tonnes of rice to foreign countries over the last five years. The MRI expected that it would earn US$700 million, with export volume reaching 2 million tonnes of rice.
Rice exports reached 1.4 million tonnes during 2015-2016 fiscal year and 1.7 million tonnes in the 2016-2017 fiscal year. Myanmar is expected to earn US$1 billion from rice exports by 2022.
Source: Eleven Myanmar
