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India to resume rice import from Myanmar

The Myanmar Rice Federation said on September 8 that India will resume buying rice from Myanmar after three years of suspension and plan to import 500,000 tonnes from this Southeast Asian nation.
The Myanmar Rice Federation said on September 8 that India will resumebuying rice from Myanmar after three years of suspension and planto import 500,000 tonnes from this Southeast Asian nation.

The federation said rice prices under the deal are under negotiationand India ’s import of Myanmar rice will create competitive pricesin the domestic market.

According to the CentralStatistical Organisation of Myanmar, the country exported 1.2 milliontonns of rice in the 2013-14 fiscal year, down 14.2 percent from 1.4million tonnes in 2012-13.

The country sets a target of having 1.5 million tonnes of rice shipped abroad during the 2014-2015 fiscal year.

Rice exports during 2013-14 earned Myanmar 460 million USD, dropping 15.4 percent from 544 million USD in 2012-13.

Myanmar 's rice is mainly exported to China , Indonesia and Japan .

Myanmar, once known as a major rice exporter in the world especiallyin the 1950s, is also a leading country in the Southeast Asia region inproducing and exporting beans of all kinds.-VNA

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