Xinhua, Yangon :
Myanmar will resume rice export in mid-September after suspending it for domestic reserve early August due to severe flooding across the country, according to the Myanmar Rice Federation Friday.
The planned resumption of rice export will help farmers recoup from the loss they might incur, a federation official said, adding that the six-week freeze was to ensure an adequate supply of rice for the domestic market and to maintain price stability.
Before the six-week rice export freeze, 400,000 tons had been exported since April, the start of the current fiscal year of 2015- 16.
However, the country will likely miss the 2 million tons’ rice export target for 2015, he said, adding that the annual export figure has been revised to between 1 million and 1.5 million tons in the year.
Figures show that Myanmar exported 1.83 million tons of rice in 2014 at a value of 644 million U.S. dollars.
Severe flooding in the Southeast Asian nation since June had inundated more than 584,792 hectares of farmland, destroying 319, 764 hectares across the country including 87,984 hectares in Rakhine state.
Myanmar will resume rice export in mid-September after suspending it for domestic reserve early August due to severe flooding across the country, according to the Myanmar Rice Federation Friday.
The planned resumption of rice export will help farmers recoup from the loss they might incur, a federation official said, adding that the six-week freeze was to ensure an adequate supply of rice for the domestic market and to maintain price stability.
Before the six-week rice export freeze, 400,000 tons had been exported since April, the start of the current fiscal year of 2015- 16.
However, the country will likely miss the 2 million tons’ rice export target for 2015, he said, adding that the annual export figure has been revised to between 1 million and 1.5 million tons in the year.
Figures show that Myanmar exported 1.83 million tons of rice in 2014 at a value of 644 million U.S. dollars.
Severe flooding in the Southeast Asian nation since June had inundated more than 584,792 hectares of farmland, destroying 319, 764 hectares across the country including 87,984 hectares in Rakhine state.
