Myanmar pvt sector wants to export rice to Bangladesh

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Siddique Islam
Myanmar's private sector exporters want to export rice to Bangladesh at FoB (free on board) prices between US$280 and $365 per tonne, officials said.
The commerce ministry has already told the Federation of Bangladesh Chambers of Commerce Industry (FBCCI), the country's apex trade body, the Chittagong Chamber of Commerce and Industry (CCCI) and the food ministry to take necessary measures in this connection.
"We have already circulated the copies of the commerce ministry letter to six divisional chambers and associations involved in rice import for taking necessary measures," a senior official of the FBCCI told the FE.
Meanwhile, Bangladesh and India have initially fixed $399 as the price for per tonne of rice after the neighbouring country had agreed to export the staple following the attack of cyclone Sidr.
Bangladesh has planned to import 500,000 tonnes of rice from India over the next three months with the first shipment reaching the country's port in the last week of this month.
The Commerce Ministry of Myanmar has informed the Bangladesh embassy in Yangon that Myanmar has about 400,000 tonnes of rice available for export at private level to different countries this year.
Besides, the Rakhine state of Myanmar has about 10,000 tonnes of rice available for export to Bangladesh through Sittwe port or border trade.
Of the 400,000 tonnes of rice, Ayeyerwaddy division of Myanmar that has about 200,000 tonnes of exportable rice is interested to export through sea to Bangladesh.
The Myanmar commerce ministry, however, informed that the import payment should be made through telegraphic transfer (TT) advance system via Singapore as Myanmar businessmen do not prefer letter of credits (LC) system.
The exporters of Myanmar do not prefer to export their products through opening of LCs due to imposition of investment and trade sanctions on the country by the United States, European Union and Canada.
On the other hand, Myanmar paddy producers association, apex trade body and some of leading rice exporters, informed the Bangladesh mission that they have available stock of non-parboiled rice, which they are interested to export at the private level.
"Private traders of Myanmar are not interested to supply rice through bidding process as they have difficulties in banking transaction," Bangladesh mission in Yangon informed the commerce ministry.
Taking to the FE, CCCI President Saifuzzaman Chowdhury said some rice is now being imported from Myanmar through opening LCs via third country.
He also said the concerned authorities should import quality rice from any country to meet the growing domestic demand.