Myanmar rice traders have agreed to suspend exports until mid-September to maintain price stability and local self-sufficiency amid severe floods, the Myanmar Rice Federation said on Tuesday.
Industry stakeholders decided a one-and-a-half-month freeze to ensure an adequate supply of rice for the domestic market and suspend exports until September 15 when the harvesting of monsoon paddy is set to begin, Xinhua quoted Soe Tun, the vice president of the federation, as saying.
Myanmar exported over 1.8 million tonnes of rice last year.
