Agro exports up $153.98 mln in current FY

Agro exports up $153.98 mln in current FY

Myanmar’s exports of agricultural products between 1 October and 10 January in the 2019-2020 financial year rose to US$998.728 million from $844.747 million in the corresponding period of the 2018-2019 FY, which reflects an increase of $153.98 million.
In the export sector, the agriculture industry performed the best, along with the natural gas sector. The chief items of export in the agriculture sector are rice and broken rice, pulses, corn, and rubber. Fruits and vegetables, sesame, dried tea leaves, sugar, and other agro products are also exported to other countries.
Myanmar agro products are primarily exported to China, Singapore, Malaysia, the Philippines, Bangladesh, India, Indonesia, and Sri Lanka. However, the export market remains uncertain due to unsteady global demand.
According to the Myanmar Rice Federation, quality control and food safety are key to the promotion of exports. Therefore, improved agricultural practices need to be developed.
Additionally, the country requires specific export plans for each agro product, as they are currently exported to external markets based upon supply and demand. Contract farming systems, involvement of regional and state agriculture departments, exporters, traders, and some grower groups are required in order to meet production targets.
The Commerce Ministry is working to help farmers deal with challenges, such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather conditions.

Source: The Global New Light of Myanmar

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