China continues to purchase Myanmar rice despite dwindling exports during the month of July, according to traders.
Rice exports decreased 6 fold during the
month of July. Currently Myanmar competes with Vietnam to export rice
to China which is also buying Vietnamese rice because it is cheaper.
"We have a lot of export rice because
the rice traders are selling their collective rice. Currently, China is
purchasing Myanmar’s rice because it is of high standard. There is 1,000
to 1,200 tons of rice a day in Muse Trading Camp,” said Chan Thar Oo,
Vice-Chairman of Myanmar Paddy Association.
The price of rice has also increased in
the local market in July, though the price is now stable due to selling
of state reserve rice.
Myanmar exports high quality rice at US$
450 to 460 per tonne. It also sells lesser quality rice (25 percent
broken grain) at US$ 405 to 410 per tonne.
source: Eleven Myanmar
No comments:
Post a Comment