TODAY

Indonesia to buy 300,000 tons of rice from Myanmar

INDONESIA has entered an agreement with Myanmar to buy 300,000 tonnes of rice from the latter, more than half the volume of 500,000 tonnes that Myanmar reserves for export, according to the Myanmar Rice Federation Monday.

During the first four months of the current fiscal year of 2016-17, Myanmar exported 400,000 tonnes of rice to foreign countries, dropping by 200,000 tonnes from the same period of the last fiscal year of 2015-16.

In a bid to boost the country’s rice export, Myanmar is exploring new markets, seeking to penetrate the markets of the Philippines, Indonesia, Malaysia, Japan and African countries.

According to statistics, Myanmar’s total rice export value reached 400,000 U.S dollars during the first four months of this fiscal year 2016-2017.

Ref: GNLM, 13 September 2016

Investment in Thilawa likely to shoot up US$1billion

THE value of the investment in the Thilawa Special Economic Zone (SEZ) could possibly scale up to US$1billion and the products from Thilawa are expected to fetch US$350million, according to the Thilawa SEZ Management Committee.

Currently, the investment in Thilawa SEZ amounts to US$760million, and the products from Thilawa yearly earn over US$240million. There are a total of 73 investors from 16 countries in the Thilawa SEZ.

Textile enterprises construction and associated factories such as steel manufacturing factories, concrete plants, a packaging materials factory, a tin manufacturing factory, a food and beverage manufacturing factory, a fertilizer plant, an agribusiness related materials factory, an auto installation and auto parts factory and a pharmaceutical factory are being operated in the Thilawa SEZ.

Thilawa SEZ began operation in October, 2015. Myanmar owns 51 per cent of this zone while Japan constitutes 47 per cent of the investment in Thilawa.

Ref: GNLM, 13 September 2016

Value of trade between Myanmar and Thailand tops US$500million

THE value of trade between Myanmar and Thailand as of the end of August in this fiscal year amounted to over US$500million, according to border trade statistics.

The Myawady border conducts the largest trade volume with Thailand.

Trade value in a similar period of last year was only US$394.618million, difference of US$105.243, it is learnt from the Trade Department. Currently, Thai-Myanmar border camps such as Tachilek, Myawady and Kawthaung border trade camps are being opened.

Myanmar has already entered into agreements with the neighboring countries – China, India, Bangladesh and Thailand – to conduct trade.

Ref: GNLM, 14 September 2016

Myanmar low-quality rice to penetrate ASENAN market

MYANMAR’s rice is sill of low quality, but efforts are still being made to penetrate ASEAN market, according to the Myanmar rice entrepreneurs.

Myanmar needs technical assistance in the processing of the rice to minimize waste in the manufacturing process. Additionally, Myanmar requires a systematic cultivation method the entrepreneurs said.

Thailand and Viet Nam are the largest exporters among ASEAN countries.

When the Philippines invited tenders to import rice for their reserves, Thailand won a tender to import 100,000 tonnes of rice their reserves, Thailand won tender to import 100,000 tonnes of rice, while Viet Nam won a bid to import 1.5 lakh tonns.

Myanmar is making an effort to import from 1 to 2 million tonnes of rice per year to foregin countries. Myanmar imported 1.4 million tonnes of rice during the last fiscal year. China constitutes eight per cent of rice export from Myanmar.

Ref: GNLM, 14 September 2016