Myanmar plans to curb rice exports to control domestic prices

Restrictions in India, Russia and Myanmar ask higher price

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At the commerce ministers’ level meeting held in New Delhi eight months ago, Bangladesh commerce minister Tipu Munshi asked India for a quota in eight types of daily commodities. At that time, India’s industry and commerce minister Piyush Goyal suggested a written proposal and agreed to it. Bangladesh submitted the matter in writing. Tipu Munshi requested India’s Piyush Goyal to speed up the process of delivery of the goods during the bilateral talks held last Friday on the sidelines of the G-20 trade and investment meeting in Jaipur, India.

Meanwhile, in Reuters report, it was said on Friday that Myanmar is planning to impose temporary restrictions on rice exports to control prices in the domestic market. This may be announced soon.

Last July, Russia pulled out of a UN-backed deal to export grain to Ukraine via the Black Sea. In addition to this, various countries have imposed restrictions on food exports, so importing countries are in trouble.

The price of 5 percent broken rice in Thailand rose to USD 609 per tonne, up 14 percent from a month earlier, according to a report on 24 August by the Bangladesh Trade and Tariff Commission (BTTC) based on Reuters data. The current rate is about 38 percent higher than a year ago. However, in one month, US wheat prices fell by 18 per cent to USD273 per tonne.

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