Myanmar rice exports fall due to cheaper prices from Vietnam

As rice consumption in Myanmar's domestic markets increases, rice exports are declining due to competition from Vietnam.

The price of Myanmar’s rice exports to China vary between US$390 and US$ 400 per ton but Vietnam’s rice price is only US$355 per ton, according to Muse branch of Myanmar Rice and Paddy Trading Association.

“At present, local consumption rate is high and price has increased. Now the rice from Ayeyarwady region is being sent back to Yangon due to high prices. Rice is being sent from the upper Myanmar to export via the border," said Chan Thar Oo, Vice President of Muse branch of Myanmar Rice and Paddy Trading Association.

In international markets, Vietnam is second after Thailand as the worlds largest rice exporters. By reducing the price of rice exports they aim to get better share of world rice market, making it difficult for Myanmar to compete.

 

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/2939-myanmar-rice-exports-fall-due-to-cheaper-prices-from-vietnam