Myanmar Agribusiness Public Corporation is planning to sell a total of Ks five billion in shares, with individuals allowed to purchase up to Ks 1 billion worth of shares each, according to its managing director.
“Every Myanmar citizen can purchase shares at the price of Ks 10,800 per share,” MAPCO managing director Ye Min Aung said.
He also said it was not the company’s duty to prevent drug money from being used to buy shares. “It is not our duty to investigate whether the buyers are using black or white money. Even if it is black money, it would be useful inside the company instead of following outside,” Ye Min Aung said.
Showing posts with label Agriculture & Fishery. Show all posts
Showing posts with label Agriculture & Fishery. Show all posts
Wednesday, 23 July 2014
Thursday, 17 July 2014
Selling without stock disrupts beans market
After the Myanmar New Year Festival in mid-April, bean prices have been on the rise because selling beans without having stock in hand disrupted the market, according to sources from Bayintnaung Wholesale Centre.
"One tonne of mung beans (RC) costs Ks 780,000 (US$780) and that of pigeon peas Ks 640,000 ($640). Since Thingyan (New Year Festival), bean prices have been rising. Currently, bean prices are stable at a high level. Around Thingyan, mung bean price was just about Ks 560,000 ($560) per tonne. It has been increasing slowly and it is now over Ks 700,000," said Dr Myint Oo from Bayintnaung Wholesale Centre.
Rising bean price is partly because of high demand from India and small reserve of beans in the country.
"One tonne of mung beans (RC) costs Ks 780,000 (US$780) and that of pigeon peas Ks 640,000 ($640). Since Thingyan (New Year Festival), bean prices have been rising. Currently, bean prices are stable at a high level. Around Thingyan, mung bean price was just about Ks 560,000 ($560) per tonne. It has been increasing slowly and it is now over Ks 700,000," said Dr Myint Oo from Bayintnaung Wholesale Centre.
Rising bean price is partly because of high demand from India and small reserve of beans in the country.
Myanmar's palm oil industry heads for a sustainable path
New research and discussions show there is hope to conserve Myanmar's unique biodiversity as its palm oil industry expands – if the country can learn from the experiences of its neighbours.
Palm oil has spelled controversy across Southeast Asia for its environmental and social impacts. But – if planned right – palm oil development and biodiversity conservation in Myanmar could happen together.
Launched at Myanmar's first workshop on the development of a sustainable plantation sector on 28 June, 2014, a study by Fauna & Flora International (FFI) shows that most biodiversity-rich forests in Myanmar's Tanintharyi region are located inland along the Myanmar-Thai border, while most land suitable for palm oil cultivation is located along the coast, where forests are already too degraded to support threatened species.
Palm oil has spelled controversy across Southeast Asia for its environmental and social impacts. But – if planned right – palm oil development and biodiversity conservation in Myanmar could happen together.
Launched at Myanmar's first workshop on the development of a sustainable plantation sector on 28 June, 2014, a study by Fauna & Flora International (FFI) shows that most biodiversity-rich forests in Myanmar's Tanintharyi region are located inland along the Myanmar-Thai border, while most land suitable for palm oil cultivation is located along the coast, where forests are already too degraded to support threatened species.
Wednesday, 16 July 2014
Local fishermen hurt by lower prices in Thailand
Myanmar fishermen blamed Thai middlemen for the lower-than-expected revenue from fish sales.
The prices of net-trapped fish in Thailand have fallen by half, said Myint Aung, a fisherman in Myiek.
"Only in the beginning of rainy season, we usually get more fish by net-trapping. So, we wait for this period. Yet, those from Thailand know this and have reduced the prices."
Located by the Andaman Sea, Myiek is close to the South of Thailand.
"Fishing boats from Myeik have no other places than Thailand to sell the fish. So, we have sell our fish at the price they give," Myint Aung added.
The prices of net-trapped fish in Thailand have fallen by half, said Myint Aung, a fisherman in Myiek.
"Only in the beginning of rainy season, we usually get more fish by net-trapping. So, we wait for this period. Yet, those from Thailand know this and have reduced the prices."
Located by the Andaman Sea, Myiek is close to the South of Thailand.
"Fishing boats from Myeik have no other places than Thailand to sell the fish. So, we have sell our fish at the price they give," Myint Aung added.
Thursday, 10 July 2014
Poor roads delay border trade with India
Border trade has been delayed for more than two weeks at the Reed toll-gate, in Chin State, near the India-Myanmar border due to an accident and poor road conditions.
Only small vehicles can now drive through the toll-gate after a 10-wheel drive truck fell off the road near old Haimon village causing a traffic jam, according to local drivers.
“There is no injury. That’s why we are delayed more than two weeks due to traffic jam,” said truck driver Aung Ko Oo.
“In rainy season, the roads in Chin State are slippery and road accidents frequently occur because the roads are very narrow,” said another driver Ko Thaw Tar.
Only small vehicles can now drive through the toll-gate after a 10-wheel drive truck fell off the road near old Haimon village causing a traffic jam, according to local drivers.
“There is no injury. That’s why we are delayed more than two weeks due to traffic jam,” said truck driver Aung Ko Oo.
“In rainy season, the roads in Chin State are slippery and road accidents frequently occur because the roads are very narrow,” said another driver Ko Thaw Tar.
Thursday, 3 July 2014
‘Businesses With Compelling Stories are Suitable to Be Listed’
When the Yangon Stock Exchange launches next year, five public companies will be listed. Among them is Myanmar Agribusiness Public Corporation Ltd (Mapco), the first public agricultural company in the country. Mapco’s managing director Ye Min Aung recently caught up with The Irrawaddy about his company’s activities and challenges ahead of the stock exchange launch.
Minister decries cost of rice exports to China
It costs more to transport a tonne of rice from Yangon to Muse, Myanmar’s main border gate with China, than it does to ship it to Africa, Minister of Commerce Win Myint said.
Each tonne of rice costs US$80 to transport from Yangon to Muse, said the minister.
“The amount is higher than the cost to export from Yangon to Africa. Why is this happening? Are taxes high or are there so many extra costs to export? This should be discussed. Soaring export costs will affect everyone, not just farmers,” he said at a ceremony to mark the three-year anniversary of a transport service association.
Each tonne of rice costs US$80 to transport from Yangon to Muse, said the minister.
“The amount is higher than the cost to export from Yangon to Africa. Why is this happening? Are taxes high or are there so many extra costs to export? This should be discussed. Soaring export costs will affect everyone, not just farmers,” he said at a ceremony to mark the three-year anniversary of a transport service association.
Wednesday, 18 June 2014
Rising rice yields seen as golden opportunity
Myanmar can more than double rice exports by improving farm productivity, cutting export costs, and opening milling sector to FDI
Once the world’s top rice exporter, Myanmar has a chance to rejuvenate its glory days if its export strategy is reviewed, the World Bank said.
The country’s rice exports could more than double if production is raised and foreign investors are welcomed into the milling sector, it said in a new report “Myanmar: Capitalising on Rice Export Opportunities”.
The report was produced by the World Bank and the Livelihoods and Food Security Trust Fund (LIFT) of Myanmar. It highlighted that Myanmar's paddy yield was the among the lowest in Asean, at 2.52 tonnes per hectare (6.25 rai) during 2010-2012 compared to 5.60 tonnes in Vietnam, which topped the chart.
Once the world’s top rice exporter, Myanmar has a chance to rejuvenate its glory days if its export strategy is reviewed, the World Bank said.
The country’s rice exports could more than double if production is raised and foreign investors are welcomed into the milling sector, it said in a new report “Myanmar: Capitalising on Rice Export Opportunities”.
The report was produced by the World Bank and the Livelihoods and Food Security Trust Fund (LIFT) of Myanmar. It highlighted that Myanmar's paddy yield was the among the lowest in Asean, at 2.52 tonnes per hectare (6.25 rai) during 2010-2012 compared to 5.60 tonnes in Vietnam, which topped the chart.
Friday, 13 June 2014
Myanmar’s Opportunity to Double Rice Exports and Reduce Poverty
New Report Advises Myanmar to Rethink its Rice Export Strategy to Expand Rice Production and Help Farmers Improve their Livelihoods
YANGON, June 11, 2014 - Myanmar has the potential to more than double its rice exports by diversifying and increasing rice production, opening its rice milling sector to direct foreign investments, and reducing export procedure costs, and thereby helping many rural poor to escape poverty, according to a new report, Myanmar: Capitalizing on Rice Export Opportunities, produced by the World Bank and the Livelihoods and Food Security Trust Fund (LIFT) of Myanmar.
Improving agricultural productivity and promoting rice exports are top priorities for the Government of Myanmar. Despite its plan to export four million tons of rice by 2020, the actual annual rice export has reached only 1.3 million tons over the past years.
YANGON, June 11, 2014 - Myanmar has the potential to more than double its rice exports by diversifying and increasing rice production, opening its rice milling sector to direct foreign investments, and reducing export procedure costs, and thereby helping many rural poor to escape poverty, according to a new report, Myanmar: Capitalizing on Rice Export Opportunities, produced by the World Bank and the Livelihoods and Food Security Trust Fund (LIFT) of Myanmar.
Improving agricultural productivity and promoting rice exports are top priorities for the Government of Myanmar. Despite its plan to export four million tons of rice by 2020, the actual annual rice export has reached only 1.3 million tons over the past years.
Thursday, 12 June 2014
Can Burma reclaim its status as a major rice player?
Imagine Burma being the second largest rice exporter in the world, just behind Thailand, while Vietnam is the world’s fourth largest rice importer. This was the situation in the international rice market 50 years ago. However, when you think of major players in international rice markets, Burma, officially known as Myanmar, doesn’t come to mind despite its neighbors dominating world rice trade.
It has remained close to self-sufficiency in rice for the last 50 years and despite exporting rice in most years, much smaller nations like Uruguay and Cambodia have been exporting more rice in recent years. This is despite the fact that Burma is the seventh largest rice producing country in the world. It has been exporting rice to sub-Saharan African countries and its neighbor Bangladesh, but these trade volumes are not consistent year to year. Instead, it may be argued that Burma sees international rice markets as a way of getting rid of surplus rice stocks.
It has remained close to self-sufficiency in rice for the last 50 years and despite exporting rice in most years, much smaller nations like Uruguay and Cambodia have been exporting more rice in recent years. This is despite the fact that Burma is the seventh largest rice producing country in the world. It has been exporting rice to sub-Saharan African countries and its neighbor Bangladesh, but these trade volumes are not consistent year to year. Instead, it may be argued that Burma sees international rice markets as a way of getting rid of surplus rice stocks.
Burma Should Prioritize Agricultural Reforms, Says Retired Official
RANGOON — Thein Swe is a retired director of the foreign economic relations department at Burma’s Ministry of Planning and Finance who once served as an associate executive director at the World Bank.
He also lectured at Payap University in Thailand in international studies, and currently works as a consultant and technical assistance coordinator for the Asian Development Bank (ADB).
In an interview with The Irrawaddy’s economics reporter Thit Nay Moe, he said he thinks the agricultural sector should be prioritized in Burma’s ongoing economic reforms.
He also lectured at Payap University in Thailand in international studies, and currently works as a consultant and technical assistance coordinator for the Asian Development Bank (ADB).
In an interview with The Irrawaddy’s economics reporter Thit Nay Moe, he said he thinks the agricultural sector should be prioritized in Burma’s ongoing economic reforms.
Thai rice pushes Myanmar out of Africa
Myanmar rice exporters are being undercut in the important African markets by a flood of exports as the Thai junta offloads millions of tonnes of stored rice at discounted prices, according to Myanmar rice trading officials.
Myanmar 25 percent broken rice had been commanding about US$335 per tonne in African market, a competitive price compared to previous Thai prices of $400. But the Thai military junta that came to power in a May 22 coup has lowered prices to $320 per tonne in Africa in a bid to offload rice stocks purchased during the government of Yingluck Shinawatra, Myanmar traders said.
Myanmar 25 percent broken rice had been commanding about US$335 per tonne in African market, a competitive price compared to previous Thai prices of $400. But the Thai military junta that came to power in a May 22 coup has lowered prices to $320 per tonne in Africa in a bid to offload rice stocks purchased during the government of Yingluck Shinawatra, Myanmar traders said.
Myanmar, S. Korea step up economic cooperation
YANGON, June 6 (Xinhua) -- Myanmar and South Korea are stepping up economic cooperation, as part of which the two countries have signed an agreement on bilateral investment promotion and protection.
The signing took place Thursday in capital Nay Pyi Taw on the occasion of S. Korean Foreign Minister Yun Byung-se's official visit to Myanmar.
During his visit, Yun exchanged views with his Myanmar counterpart U Wunna Maung Lwin on promoting bilateral relations and cooperation.
Myanmar President U Thein Sein and Speaker of the Parliament and the Lower House U Shwe Mann also met Yun separately and held talks on bilateral trade and investment, as well as technical and financial aid for the development of Myanmar, especially the development of its agricultural and rural sectors.
The signing took place Thursday in capital Nay Pyi Taw on the occasion of S. Korean Foreign Minister Yun Byung-se's official visit to Myanmar.
During his visit, Yun exchanged views with his Myanmar counterpart U Wunna Maung Lwin on promoting bilateral relations and cooperation.
Myanmar President U Thein Sein and Speaker of the Parliament and the Lower House U Shwe Mann also met Yun separately and held talks on bilateral trade and investment, as well as technical and financial aid for the development of Myanmar, especially the development of its agricultural and rural sectors.
Myanmar Needs Modernized Mills to Increase High Quality Rice Exports, Says MRMA
The Myanmar Rice Millers Association (MRMA) has stressed the need for setting up modernized rice milling units in the country to be able to increase exports of high quality 5% brokens, according to local sources.
The MRMA noted that Myanmar’s high quality 5% broken rice (locally known as Tann Myint) has huge demand from Europe and Japan but local millers lack facilities to meet the demans. They say sophisticated milling units with rice polishers and colour sorter machines, which can produce high-grade 5% broken rice, are needed to abreast with the market needs. Currently, there are less than ten high-tech and modernized rice mills that can produce 100 to 400 tons in the country, according to the MRMA. Owing to the high cost of producing 5% broken rice, most of the millers have stopped its production.
Wednesday, 11 June 2014
Myanmar’s rubber plantations facing losses due to price drop
A number of rubber plantations are operating at a loss due to falling price of natural rubber which drops to US$1,700 per ton this month from $2,600 at the end of 2013.
Rubber farmers have aired their grievances, particularly the widening deficit between production cost and selling price.
Farmers growing inferior rubber varieties are hardest hit by the price drop. Local rubber price hinges on the international price fluctuation. In booming market, rubber price used to soar to $3,000 per ton.
Rubber farmers have aired their grievances, particularly the widening deficit between production cost and selling price.
Farmers growing inferior rubber varieties are hardest hit by the price drop. Local rubber price hinges on the international price fluctuation. In booming market, rubber price used to soar to $3,000 per ton.
Myanmar seeks to export timber products to EU
YANGON - After banning timber exports, Myanmar is now working to export finished wood products to the European Union (EU), according to the Ministry of Environmental Conservation and Forestry.
To legally export wood products to the EU, the government has to become a member of the Forest Law Enforcement Governance and Trade (FLEGT) and through a voluntary partnership or VPA that includes commitments and action to halt trade in illegal timber.
On May 28, Win Tun, minister for Environmental Conservation and Forestry, met with EU representative Isabel Faria De Almeida to request technical aid and open more training courses.
To legally export wood products to the EU, the government has to become a member of the Forest Law Enforcement Governance and Trade (FLEGT) and through a voluntary partnership or VPA that includes commitments and action to halt trade in illegal timber.
On May 28, Win Tun, minister for Environmental Conservation and Forestry, met with EU representative Isabel Faria De Almeida to request technical aid and open more training courses.
Garment sector sees more investment
Six foreign invested and three local invested firms were given the green light to invest at the first meeting of newly-reorganised Myanmar Investment Commission on May 31.
The meeting was held at Yangon Region branch with 43 items on the agenda, including investment proposals.
The companies receiving approval included garment makers, surgical-equipment producers and a petroleum distributor. They were from Hong Kong, Thailand, Indonesia, Korea and China.
The meeting was held at Yangon Region branch with 43 items on the agenda, including investment proposals.
The companies receiving approval included garment makers, surgical-equipment producers and a petroleum distributor. They were from Hong Kong, Thailand, Indonesia, Korea and China.
Friday, 6 June 2014
Workshop on export standard for SMEs products to open
The workshop for upgrading export products involving small and medium enterprises will take place on June 6-to-11 in Bahan Township, Yangon.
Under the theme “Standardisation and Technical Transfer for Agro-based Products”, the workshop is expected to help SMEs products to penetrate the world market.
Under the theme “Standardisation and Technical Transfer for Agro-based Products”, the workshop is expected to help SMEs products to penetrate the world market.
Parboiled rice price to be 15 per cent cheaper than white rice
The distribution and sale of parboiled rice will be launched costing 15 per cent less than that of white rice per sack, said Thaung Win, secretary of Myanmar Rice Millers Association.
“Relevant authorities, including Myanmar Rice Millers Association and the Ministry of Health, have jointly certified that parboiled rice is suitable for consumption. It is nutritious and has vitamin C. It will be cheaper than white rice and packaged in small sack for the convenience of consumers,” said Thaung Win.
The mill construction to house 10 imported parboiled rice machines is 90 per cent complete and the production at full capacity can reach 300,000 tons, according to Ye Min Aung, board director of Myanmar Agribusiness Public Corporation.
“Relevant authorities, including Myanmar Rice Millers Association and the Ministry of Health, have jointly certified that parboiled rice is suitable for consumption. It is nutritious and has vitamin C. It will be cheaper than white rice and packaged in small sack for the convenience of consumers,” said Thaung Win.
The mill construction to house 10 imported parboiled rice machines is 90 per cent complete and the production at full capacity can reach 300,000 tons, according to Ye Min Aung, board director of Myanmar Agribusiness Public Corporation.
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