According to the Myanmar Rice Federation (MRF), Myanmar Agribusiness Public Corporation (MAPC) won tender for exporting rice to Japan and expected to make the first shipment of 5,000 tons of high-quality rice in May 2013 at a price of US$490 per ton.
This is the first time Myanmar exports rice to Japan.
According to the official report, Myanmar has planned to export 1.5 million tons of rice in the fiscal year 2012-2013 and it has so far exceeded the target by about 600,000 tons.
Agriculture-related firms from Japan, South Korea and Vietnam are planning to make investment in Myanmar”s agricultural sector, local media reports said.
Specifically, Mitsui from Japan and Vina Capital from Vietnam have respectively signed memorandums of understanding with MAPC on cooperation in agricultural development.
Under the MoU, integrated food and energy production factories as well as advanced rice grinding and purifying mills will be set up in Yangon, Ayeyawady and Bago regions as well as Naypyidaw.
As of December 2012, foreign investment in the country”s agricultural sector totaled 182.75 million US dollars in nine projects, accounting for 0.44% of the total since the country opened to such investment in late 1988.
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