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Myanmar to halt rice exports until mid-September

Xinhua, August 4, 2015 Adjust font size:

Myanmar rice traders have agreed to suspend exports of rice until mid-September to maintain price stability and local self-sufficiency amid the country encountering severe floods, Myanmar Rice Federation said on Tuesday.

Industry stakeholders decided one-and-a-half-month freeze to ensure an adequate supply of rice for the domestic market and suspend exports until September 15, when the harvesting of monsoon paddy is set to begin, said Dr. Soe Tun, vice president of the federation.

The federation in its Sunday announcement has pledged to take steps to avoid high prices and rice shortages in flood-hit areas and offered to help those in need of rice supply.

According to the Ministry of Agriculture and Irrigation, about 850,600 acres (344,493 hectares) of farmlands were submerged, of which Rakhine state suffered the most with over 260, 000 acres ( 105,300 hectares).

Over 1.8 million tons of rice were exported overseas last year, the federation said. Endi