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Burma Aims to Double Rice Exports

29 October 2012

Burma plans to double its rice exports over the next five years, from 1.5 million metric tons in the year ending March 2013 to as much as 3 million metric tons by 2017, according to a report by Bloomberg. Ye Min Aung, the secretary-general of the Myanmar Rice Federation, said on Oct. 25 that the increase would be a result of improved yields and infrastructure. The US Department of Agriculture raised its export forecast for Burma by 25 percent to 750,000 tons for this year on Oct. 11. The global market in rice, a staple for half the world, has been in a surplus for seven years.