Rice Export: No Impact To Export & Local Market Due To Ivory Coast Case: MRF

23 April 2019
2019-04-23 15:44

The case of Myanmar rice being destroyed at Ivory Coast doesn’t affect Myanmar’s rice export market and local consumption, it was assured by the officials from Myanmar Rice Federation at a press briefing in Yangon on Monday.

The rice destroyed at an African country was owned by Yangon-based Olam International Singapore firm that bought the rice from three Myanmar companies: Myanmar Economic Corporation (MEC), ShweWahYaung Company and AyarHintha Company. The Myanmar rice exporters guaranteed that the rice are qualified to export in the international market.

Chairman, Myanmar Rice Federation, Ye Min Aung said “We are going to handle the case in diplomatic ways between Myanmar and Ivory Coast as they dismissed to inform us in proper channel in destroying rice. As Myanmar rice are qualified in international market, the reason of the destruction comes as the weakness of shipping procedure and buyer Company.”

From 1st April, 2018 to 29th March, 2019, Myanmar exported over 1.92 million metric tons of rice to 52 countries which worth over 648.7 million US$. Africa is the second largest rice export market of Myanmar while China ranks as the largest one. The African rice market is competitive among Pakistan, India, Myanmar and Vietnam.

Chairman, Myanmar Rice Federation, Ye Min Aung said “A total of 22,000 tons of rice are loaded by MV Ocean Price in September 2018, the rainy season in Myanmar, and it left in October so that the rice was in the cargo for about nearly 10 months before reaching the African countries. It is impossible for any high quality rice to remain good after being stored in cargo at sea for nine months. The long storage on board can impact on the quality of rice.”

The press held at UMFCCI also expressed that the current decline of rice price in market is not because of the aforesaid case but because of the fall of price in the international market.

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