Myanmar rice exporters are set to resume the maritime trade that was suspended during the rainy season, according to the Myanmar Rice Federation Joint Secretary Dr. Soe Tun October 9.
They have arranged to export 60,000 tons of rice to African countries in October, fetching a price of US$340 per ton, he told Mizzima.
Myanmar’s rice exporters - seeking to reestablish Myanmar’s place in the international export pecking order - hope to double rice exports in the 2014-15 fiscal year but face hurdles.
Although Myanmar businessmen have been exporting rice to a major customer China using border trade for many years, the Chinese authorities started to arrest merchants and confiscate rice shipments on the border last month. As a consequence, border trade of rice is in decline.
Myanmar rice merchants have also faced problems with India. The merchants recently turned down an Indian tender invitation over payment rules, according to officials of the Myanmar Rice Federation.
Myanmar exported 1.2 million tons of rice in the 2013-14 fiscal year but plans to increase export to 2 million tons in this fiscal year. Thailand, India and Vietnam currently top the tables in rice exports.
