Bangladesh negotiates with Myanmar to buy 100,000 tonnes of rice

Bangladesh has reopened negotiations with Myanmar to purchase 100,000 tonnes of rice, said U Ye Min Aung, chair of the Myanmar Rice Federation (MRF). Bangladesh signed a Memorandum of Understanding with Myanmar for its self-sufficiency of foodstuffs and cooperation in the rice sector in 2017. Myanmar exported 100,000 tonnes of rice to Bangladesh in the […]

China constitutes over 77% of Myanmar’s overall rice exports in Q1

Myanmar exported over 500,000 metric tons of rice and broken rice worth US$191.717 million to China in the first quarter of the current financial year 2020-2021, which accounts for 77.4 percent of overall rice exports, Myanmar Rice Federation’s data indicated. The erratic weather in China has caused damage to some farmlands in China. So, a […]

Myanmar rice trading to go digital in 2021

Myanmar’s first online market to trade rice and seeds and function as an information hub will be available in the beginning of 2021, according to the Myanmar Rice Federation (MRF). “We are working to create a digital platform for the trading of seeds as well as crops like paddy and rice. This will be the […]

China, Myanmar Firms to Invest $130m in Four Agriculture Centres

China’s state-owned CITIC Construction group, the Myanmar Rice Federation and Myanmar Agribusiness Public Corporation signed a cooperation agreement for the construction of agricultural centres in three key regions. The US$130 million (K197 billion) deal signed in Nay Pyi Taw last week will construct centres in Yangon, Ayeyarwady, Mandalay and Rakhine. “The project intends to upgrade the […]

MoU on rice exports signed with Yunnan Province government

The Ministry of Commerce (MOC) and government of Yunnan Province, China, signed a memorandum of understanding on the export of Myanmar rice and other crops to China on April 21. Under the agreement, Myanmar will be able to legally export crops such as rice as well as fisheries to China via the Muse border trade […]

Crop insurance begins to take root in Myanmar

Local insurer Global World Insurance Co (GWI) is expanding its crop insurance pilot project with the signing of an agreement with a private contract farming business, U Soe Win Thant , the director of Global World Insurance, revealed. In 2016, Global World Insurance submitted a proposal on offering crop insurance to the Insurance Business Regulatory […]

Myanmar ups efforts to stem fall in rice exports

Myanmar’s rice exports have been falling over the past year, and the government is upping efforts to diversify its markets and reduce costs to better compete with other exporting countries. Myanmar exported 1.7 million tonnes of rice and broken rice worth US$ 578 million in between April and December last year, according to the Ministry […]

Myanmar at losing end in border trade disagreements: leaders

Myanmar must take steps to negotiate bilateral trade agreements with its neighbours to avoid volatility in border trade with China and India, as the consequent losses for locals can be huge. “There is currently no precise policy for border trade. Every country should have a policy to deal with trade disagreements and volatility. Right now, […]

Rice export declines within eight months

Myanmar only exported over 1.5 million tons of rice and broken rice within eight months from April 1 till December 14, according to Myanmar Rice Federation (MRF). Myanmar earned about US$288 million from more than 800,000 tons of rice and broken rice export through border trade routes and over US$240 million from over 700,000 tons […]

What to expect from Myanmar’s top five export sectors

Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]