Home / LATEST / Sri Lanka negotiates to purchase 500,000 MT of high-quality rice from Myanmar

Sri Lanka negotiates to purchase 500,000 MT of high-quality rice from Myanmar

Sri Lanka has offered to purchase 500,000 metric tons (MT) of high-quality rice from Myanmar through a government-to-government contract, U Aung Soe, the director general of Myanmar Trade Promotion Team under the Ministry of Commerce has said.

The offer to buy 200,000 MT of parboiled rice and 300,000 MT of white rice was made last week during negotiations led by the Sri Lankan Ambassador K.W.N.D. Karunaratne between the two governments, Myanmar Times reported.

According to Dr Soe Tun, vice chair of the Myanmar Rice Federation, Sri Lanka first offered to purchase 500,000 MT of rice from Myanmar in February but has not pursued after Sri Lanka was told the price for each metric ton is US$285.

However since then rice prices have risen to more than US$ 300 per metric ton, the official said.

“We are still negotiating and have yet to decide on anything,” Dr Soe Tun said, adding that Myanmar will only sell rice to Sri Lanka at market prices.

A four-member team Sri Lankan officials visited Pakistan and Myanmar earlier this month to hold discussions to purchase rice.

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