Myanmar rice traders hope slowdown of Chinese buyers is temporary
The arrest of several Chinese buyers for tax evasion and the weakening Chinese economy is hurting trade with Myanmar’s largest rice export market, said U Soe Tun, vice chair of the Myanmar Rice Federation.
China is the destination for over half of Myanmar’s rice exports. This year marks the first time there have been legal rice exports from Myanmar to the world’s second-largest economy, but much of the business is still conducted on an informal cross-border basis through Muse in northern Shan State.
