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The Burmese military regime is intervening in the rice market to control higher prices. The regime detained dozens of domestic and foreign rice merchants and representatives from supermarkets and has pledged to prosecute traders who were selling rice...

Exporters and importers continue to face much uncertainty due to the military regime’s foreign currency control policies and continuing conflict between the regime and ethnic armed forces. FAS Rangoon forecasts Burma’s MY 2024/25 rice exports to recover to 1.7 MMT amid high stocks and expected relaxation of export controls. MY 2024/25 corn exports and wheat imports will remain flat.

Rice is Sri Lanka's national staple, its productive cultivation is of national security concern. FAS Colombo (Post) forecast’s Sri Lanka’s market year (MY) 2024/2025 (October-September) rice production (milled) at 3.42 million metric tons (MMT), coming from a planted area of 1.1 million hectares, with yields of 4.57 metric tons (MT)/hectare (rough rice).

The Democratic Socialist Republic of Sri Lanka’s (Sri Lanka) Ministry of Finance, Economic Stabilization and National Policies recently introduced a Special Commodity Levy for three agricultural commodities: maize (corn), black gram, and green gram, effective August 18, 2023, for a period of six-months.

The Democratic Socialist Republic of Sri Lanka’s (Sri Lanka) Ministry of Health recently introduced the Food (Refined Wheat Flour Fortification) Regulations (2022).

FAS Rangoon (Post) forecasts Burma’s rice exports, corn exports, and wheat import smaller in MY 2023/24. Exporters and importers continue to face a lot of uncertainties with the continuing changing policies on export/import procedures and foreign currency controls.

FAS Colombo (Post) forecast’s Sri Lanka’s market year (MY) 2023/2024 (October-September) rice production (milled) at 3.16 million metric tons (MMT), with a planted area of 1 million hectares.

FAS Rangoon forecasts Burma’s corn production lower due to rising production costs, unstable security conditions in some production areas, and unfavorable weather especially in Shan State.

On October 20, 2022, the Sri Lanka Standards Institution (SLSI) notified draft amendment standards (number 1) to SLS 1725-1:2021 for Processed Grain-based Food Products, Part 1: Multi/Mixed Grain to the World Trade Organization (WTO).

Post forecasts Burmese rice exports lower in November. Despite the contracted shipment to Bangladesh, slow demand from African countries and high domestic prices will lead to lower exports in November. Domestic prices for Emata increased in November as local traders are purchasing stock in anticipation of a lower production. Prices for Shwe Bo Pawson also remained high.

Post forecasts Burmese rice exports higher in October. Despite low demand from African countries, there is high demand from Bangladesh and China. Domestic prices for both Emata and Shwe Bo Pawsan declined in October as supplies from the new rice crop enter the market and the Myanmar kyat appreciated against the U.S. dollar.

Post forecasts Burmese rice exports higher in September with increasing demand for Burmese rice due to India’s policies restricting rice exports. Despite larger domestic rice supplies from the new rice crop, domestic prices for both Emata and Shwe Bo Pawsan rose significantly. The depreciation of the Myanmar kyat and high production costs have continued putting upward pressure on domestic rice prices.