Myanmar still suspends sending rice to China despite higher demand
Myanmar merchants have not delivered rice to China because of increasing domestic consumption and Chinese merchant’s uninteresting offer in spite of a rise in demand from China, say the sources of the rice market of Muse.
“Chinese demand has again risen after a fall in supply here due to a rise in domestic consumption. It can be said that there is a balanced trade. In the recent days, rice enters Muse ranging between 500 tons and 700 tons,” said U Chan Tha Oo, vice chairman of rice sale center in Muse.
Myanmar merchants have not sent rice to China because Chinese offer is not as good as that at home, it is learnt despite increasing demand from China.
“We’ve heard demand from China is higher again. But an offer they are making is still lower than that at home. We will have to watch for the market constantly. As new rice is entering the market, it fetches a good price even at home,” said a merchant of Mandalay.
Although Vietnamese rice was mainly imported to China before since Vietnam had slashed the prices of rice in exporting it to China while Myanmar was delivering rice at market price there, demand from China has again gone up on account of a fall in supply from Myanmar to China, according to the market sources.
“We’ve got more prices by 2 Yuan (about K317) per sack. Compared to the domestic market, we haven’t brought in reasonable price,” said a rice merchant.
On the market, one ton of Myanmar rice (5 mark) fetches US$ 440 while that (25 mark) US$ 390 and the former of Vietnam’s brings in US$ 400 as the latter of it US$ 355, it is learnt.
In 105 mile trade zone of Muse, summer special rice (5 mark) sells for 139 Yuan (about K22,000) per sack and 25 mark rice is sold at 125 Yuan (about 19,750), say the market sources.