Preview

Military Council plans to increased rice exports to Bangladesh

April 05/ 2023 | View Counts :3664
News

Takesno account of current plight of rice farmers in Rakhine State

 

Narinjara News, April 5, 2023

 

The Minister of Commerce, U Aung Naing Oo, announced thatthe exportation of rice grown inRakhine State to Bangladesh will be allowed to be increased.

 

According to Military Council-controlled newspapers on April4th, the Minister confirmed that ashipment of 200,000 tons of rice in total, including 2,500 tons grown inRakhine State, has already beenexported to Bangladesh.

 

Additionally, the Minister expressed plans for more rice exports from Rakhine State to Bangladesh in the future.

 

On April 3rd, during a meeting of the Working Committee onSocial Economic Development in theRakhine Region, the Minister delivered that statement at the meeting hall of the Ministry ofCommerce in Naypyidaw. However the Minister did not elaborate on how many more tons of rice will be allowed to beexported.

 

U Khin Maung Gyi, Vice President of Rakhine EconomicInitiative Public Co., Ltd (REIC), commentedthat granting the permission to export rice produced in Rakhine State via Sittwe will prove to be beneficial forthe local farmers and millers.

 

“Currently the majority of rice produced in Rakhine State isstuck within the domestic market,with most of it being exported to Yangon and regions bordering China. After subtracting general and travelexpenses, the profit for Rakhine rice traders is often lower than expected. However, if the ricegrown in Rakhine is permitted to be exported to Bangladesh or India, which are closer, stronger businessopportunities will emerge, ultimatelybenefiting Rakhine State. That’s my opinion”, he told Narinjara.

 

U Khin Maung Gyi cautioned, “On the other hand due to thelow inventory of rice held by farmers,these opportunities may result in greater benefits for rice entrepreneurs thanfor the farmers themselves.”

 

According to the Arakan Farmers Union, the last rice planting seasonin Rakhine State saw a decrease inrice yield of approximately 40 percent, as only 800,000 acres of land were able to be planted, due to theincreased cost of importing fuel and other raw materials.

 

A Pauktaw farmer provided a good insight into the realsituation on the ground commenting, Therice that we are able to grow andproduce was barely sufficient for our own consumption,

leaving us with no surplus to sell. After factoring in theexpenses of labor hire, fuel, and fertilizer,there is almost no profit remaining. The remaining rice is solely meant for subsistence.”

 

Bangladesh and Myanmar governments were able to sign amemorandum of understanding tofacilitate rice trading between the neighboring countries, on September 7th, 2017.Following the signing of thememorandum of understanding, Myanmar exporteda total of 200,000 tons of rice, which included 2500 tons produced by Rakhine State, to Bangladesh.

 

#Myanmar-Bangladesh
Hello, ladies and gentlemen. In order for our media to survive, we need your cooperation and help.
Narinjara NewsDonate

Related Posts

You can get the most important domestic and international news and events of the day to your email every month.

Latest News

You can get the most important domestic and international news and events of the day to your email every month.
© 2024 Narinjara News. All rights reserved.