Five companies have won contracts for the export of 50,000 tonnes of rice to Sri Lanka by June, according to the Myanmar Rice Federation (MRF). Commerce Minister Dr Than Myint held talks with a delegation led by the Sri Lanka ambassador to Myanmar, KWND Karunaratne, at his office in Nay Pyi Taw on January 23rd and signed a Memorandum of Understanding on rice exports.
An MRF official said, “We invited companies to submit bids for rice exports to Sri Lanka. Only ten companies applied. Of them, we have selected five.” Sri Lanka’s rice production has declined by about 200,000 tonnes following a drought last year. Sri Lanka is trying to slow the rising price of rice and control the flow of the product by reducing import tariffs.
Since April, Myanmar has exported 1.15 million tonnes of rice and broken rice, down nearly 150,000 tonnes from the same period last year, according to the Ministry of Commerce.
With more countries looking to buy rice from Myanmar, exports are expected to reach last year’s level, said Khin Maung Lwin, assistant permanent secretary of the ministry.
Over the 2015-16 financial year the country exported 1.5 million tonnes of rice.
Myanmar has exported rice to Sri Lanka in the past, but only in small quantities and without any agreement at the government level.
