Indonesia to buy 500,000 tonnes of rice from Myanmar
Published on Monday, 19 November 2012 22:18
A rice mill in Daydeye Township, Ayeyawady Region. (Photo-Nay Myo Tun/EMG)
Indonesia plans to purchase up to 500,000 tonnes of rice, according to the Myanmar Rice Industry Association (MRIA).
"Indonesia first agreed to buy 200,000 tonnes and we have exported 5,000 tonnes. But it has proposed to buy 300,000 tonnes more. An agreement will be signed during the ongoing Asean Summit in Cambodia," MRIA Chairman Chit Khaing said.
Myanmar exported 706,625 tonnes of rice and 73,392 tonnes of broken rice to foreign countries between April and October this year, according to a report by the Commerce Ministry. The country earned US$275 million from the export.
The country is expected this year to export more than a million tonnes of rice amid rising international demand, said MRIA secretary general Ye Min Aung.
Myanmar exported more than one million tonnes of rice annually before 1956.
The United States is also planning to buy rice from Myanmar.
Myanmar's rice exports within seven years:
Financial Year Rice (tonnes) Value (US$)
2006-2007 15,000 3.000
2007-2008 36,5640 104.580
2008-2009 708,490 210.450
2009-2010 895,870 279.680
2010-2011 527,000 194.426
2011-2012 791,087 308.570
2012-2013 (October) 706,625 275.000
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