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Myanmar has announced that it will export 6,000 tonnes of rice to Japan this month, according to Myanmar Rice Federation (MRF)
This is the second time Myanmar is going to export rice to Japan after the latter agreed to import rice from the Southeast Asian nationfor the first time in 40 years in 2013, Myanmar Business Today reported.
In 2013, Myanmar had won the tender to export 5,000 tonnes of rice to Japan.
This year, Myanmar Agribusiness Public Corporation (MAPCO) and Japan’s Mitsui Corporation collaborated to bid for a tender and won an export order of 6,000 tonnes.
The companies will export Sinthwe Latt and Hmawbi II type (five percent broken) rice to Japan.
Soe Tun, chairman of MRF said, “Besides the 6,000 tonnes of rice export, we also signed MoU with some African countries to export 40,000 tonnes of rice.
“For the rice exporters, there is very little price difference between the local and foreign markets. So there is not much profit for them. But for the current export order, they will get about US$450 to US$500 per tonne, which is a much better price,” added Tun.
Half of Myanmar’s rice exports reportedly go to China via border trade. During FY 2012-13, over 800,000 tonnes of rice were exported to China.
According to MRF’s data, Myanmar’s rice export fell in FY 2013-14 fiscal year that ended March. Myanmar exported about 1.5mn tonnes of rice in FY 2012-13 but could only manage to export 1.1mn tonnes last fiscal.