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Myanmar's rice export drops over 62 million USD in 2015-16 FY

Xinhua, January 12, 2016 Adjust font size:

Myanmar's rice export fetched more than 308 million U.S.dollars in the first 10 months (April-Jan.) of the fiscal year 2015-16, drop 62 million U.S. dollars from the same period last year, according to Myanmar Rice Federation Tuesday.

During the period, over 830,000 tons of rice were exported , down more than 150,000 tons of rice correspondingly, the federation said.

The export drop was due to the recent widespread flood which destroyed paddy fields across the country in monsoon season which begins from June to October last year.

Myanmar resumed its rice exports in mid-September after lifting a one-and-a-half month freeze aimed at maintaining price stability and local self-sufficiency in the wake of the widespread floods.

In 2014-15 fiscal year, a total of 1,365,000 tons of rice were exported, fetching 507 million U.S.dollars. Endit