As of January 9, 2023, more than 174,000 tons of rice have been exported to Bangladesh, and more than 25,000 tons of remaining rice is still being shipped, according to the Ministry of Economy and Commerce.
A Memorandum of Understanding (MoU) on rice trade between the two governments of Myanmar and Bangladesh was signed in September 2022. According to the memorandum of understanding, from 2022 to 2027, Myanmar will be able to export and sell a maximum of 250,000 tons of white rice and 50,000 tons of brown rice to Bangladesh each year. According to the MoU, the Myanmar Rice Federation-MRF and Bangladesh’s Directorate General of Food have signed an agreement to export 200,000 tons of 5% high grade rice, and have taken the necessary steps to export.
According to the Sales Contract, more than 174,000 tons of rice were exported until January 9, 2023. Of the remaining rice to be shipped, 25,000 tons of rice are still being shipped, and the remaining rice is being shipped to meet the deadline.
On September 7, 2017, the Ministry of Economy and Commerce signed a memorandum of understanding on rice trade between Myanmar and Bangladesh through the G to G system. It was signed by the Minister and the Minister of Food of Bangladesh.
According to the MoU, Bangladesh agreed to buy 250,000 tons of white rice and 50,000 tons of brown rice from Myanmar annually from September 2017 to September 2022.
According to the memorandum of understanding, a sales contract was signed between the Myanmar Rice Federation and the Food Directorate of the Ministry of Food of Bangladesh. One hundred thousand tons of rice will be shipped from Myanmar to Bangladesh for the first time in 2017. For the second time, 100,000 tons of rice was exported and sold in 2021.
For the third time, 200,000 tons of white rice from Myanmar could be exported to Bangladesh. On September 8, 2022, a rice trade agreement was signed between the Bangladesh Ministry of Food, Directorate General of Food, and the Myanmar Rice and Rice Federation.
In the eight months of the fiscal year 2022-2023, more than 1.28 million tons of rice and broken rice were exported, which is more than 140,000 tons more than the same period last year, according to the Ministry of Economy and Commerce.