Milled Rice Price in Myanmar - 2022
Contents:
- Milled Rice Price in Myanmar (FOB) - 2022
- Milled Rice Price in Myanmar (CIF) - 2022
- Milled Rice Exports in Myanmar
- Milled Rice Imports in Myanmar
Milled Rice Price in Myanmar (FOB) - 2022
The average milled rice export price stood at $406 per ton in December 2022, increasing by 4.2% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.8%. The pace of growth appeared the most rapid in March 2022 an increase of 7.8% month-to-month. The export price peaked in December 2022.
Average prices varied somewhat for the major external markets. In December 2022, the highest price was recorded for prices to Poland ($473 per ton) and the UK ($462 per ton), while the average price for exports to Belgium ($345 per ton) and Spain ($391 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.
Milled Rice Price in Myanmar (CIF) - 2022
In 2022, the average milled rice import price amounted to $1,262 per ton, picking up by 153% against the previous year. In general, the import price continues to indicate a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for India.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to +9.9% per year.
Milled Rice Exports in Myanmar
In 2022, milled rice exports from Myanmar skyrocketed to 1.1M tons, jumping by 28% against 2021. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 673% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, milled rice exports soared to $394M in 2022. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 421%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Milled Rice in Myanmar (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 0.8 | 0.2 | 72.6 | 71.4 | 346.9% |
| Bangladesh | N/A | N/A | 34.5 | 57.3 | 66.1% |
| China | 2.0 | 28.8 | 92.7 | 55.2 | 202.2% |
| Italy | 1.6 | 1.2 | 6.1 | 30.3 | 166.5% |
| Spain | 1.2 | 2.1 | 11.0 | 29.0 | 189.1% |
| Poland | 3.8 | 2.7 | 19.0 | 18.8 | 70.4% |
| Belgium | 2.1 | 6.0 | 12.5 | 18.0 | 104.7% |
| Cameroon | 3.2 | N/A | 13.8 | 15.0 | 67.4% |
| Angola | N/A | N/A | N/A | 14.1 | 0% |
| Cote d'Ivoire | 0.5 | 2.8 | 24.7 | 13.0 | 196.2% |
| Bulgaria | 0.5 | 0.8 | 3.0 | 10.9 | 179.4% |
| Togo | N/A | N/A | N/A | 6.1 | 0% |
| Guinea | 0.1 | N/A | 2.9 | 5.9 | 289.3% |
| Others | 14.3 | 17.0 | 28.0 | 49.0 | 50.8% |
| Total | 30.2 | 61.5 | 321 | 394 | 135.4% |
Top Export Markets for Milled Rice from Myanmar in 2022:
- Philippines (201.5K tons)
- Bangladesh (147.3K tons)
- China (145.3K tons)
- Spain (75.8K tons)
- Italy (74.8K tons)
- Cameroon (50.0K tons)
- Poland (47.7K tons)
- Belgium (46.2K tons)
- Cote d'Ivoire (43.1K tons)
- Angola (40.0K tons)
- Bulgaria (29.3K tons)
- Guinea (20.0K tons)
- Togo (20.0K tons)
Milled Rice Imports in Myanmar
Milled rice imports into Myanmar declined notably to 49 tons in 2022, reducing by -86% compared with the year before. In general, imports recorded a dramatic curtailment. The smallest decline of -29.7% was in 2020.
In value terms, milled rice imports contracted rapidly to $62K in 2022. Over the period under review, imports continue to indicate a precipitous descent. The smallest decline of -25.6% was in 2020.
| Import of Milled Rice in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 41.8 | 277 | 34.2 | 61.8 | 13.9% |
| South Korea | 989 | 1,106 | N/A | N/A | 11.8% |
| Thailand | 1,360 | 364 | 137 | N/A | -68.3% |
| Japan | 101 | 93.7 | N/A | N/A | -7.2% |
| United States | 89.3 | N/A | N/A | N/A | 0% |
| Others | 28.8 | 99.6 | 4.1 | N/A | -62.3% |
| Total | 2,610 | 1,941 | 175 | 61.8 | -71.3% |
Top Suppliers of Milled Rice to Myanmar in 2022:
- India (49.0 tons)
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