Rice exports from Myanmar may more than double to 1.5 million metric tons this year, an industry group forecast, highlighting the country’s potential to boost overseas trade as its government pursues reform.

As the government starts to purchase production at above- market prices to encourage greater planting, shipments may increase to as much as 2 million tons next year and reach 3 million tons by 2015, according to the Myanmar Rice Industry Association. Sales totaled 700,000 tons in 2011.

An advance in exports may bolster global stockpiles, while boosting competition for Thailand, Vietnam and India. The projected gain may make Myanmar the world’s sixth-largest shipper this year, with volumes at the highest level since the 1960s, when the country was the world’s largest exporter, according to data from the U.S. Department of Agriculture.

Read More

About the author

Zhong Li is a tech journalist who covers the latest developments in artificial intelligence, robotics, and biotechnology. Zhong Li is passionate about exploring the ethical and social implications of emerging technologies.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Post-election selloff hits Thai bourse, triggered by political uncertainty

The Stock Exchange of Thailand has suffered as investors are worried that the Move Forward-led coalition will not be able to form a new government until August

Food insecurity is threatening decades of development progress in Asia and the Pacific

The Russian invasion of Ukraine has disrupted supplies of food staples and fertilizer, straining a global food system already weakened by climate change impacts, pandemic-related supply shocks, and unsustainable farming practices.

El Nino might cut Thailand’s rice harvest

The country, which is the second-largest exporter of rice in the world, has asked its farmers to plant only one crop this year, instead of the usual two, to conserve water and avoid crop failure.