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IFC, The Rice Trader and Myanmar Rice Federation Host Conference to Boost Myanmar’s Rice Industry

Yangon, Myanmar, April 28, 2017 —IFC, a member of the World Bank Group, The Rice Trader (TRT) and the Myanmar Rice Federation (MRF) are organizing an international conference to support the sustainable development of Myanmar’s rice industry and its regional trade.
The Myanmar Rice Network 2017 is the first of its kind in Myanmar and promises to bring together key industry stakeholders from around the world to help strengthen the country’s growing rice market.
“The Rice Trader is honoured to host this important seminar as recognition to Myanmar’s rise and importance in the global rice trade,” said Jeremy Zwinger, President and Chief Executive Officer at The Rice Trader. “This meeting is a timely gathering that looks at how Myanmar will set its course towards growing exports and the value from these rice exports.”
Local rice millers and exporters, global rice traders and industry specialists attending the conference will gain market knowledge regarding current improvements to production including diversification and milling methods which are jointly supported by the government and private sector.
“The conference will serve as a platform for information exchange among key stakeholders, allowing all to gain a better understanding of the market and the opportunities presented, to network and explore business deals,” said U Ye Min Aung, Secretary General from Myanmar Rice Federation.
With greater investment in production standards and quality control, Myanmar’s rice industry has room for growth especially given its existing cross-border trade with China and sales to Africa and Europe.
The country is currently seeking to address trade challenges by developing logistics, streamlining its supply chain and helping to improve access to markets. Supported by the Australian Department of Foreign Affairs and Trade, the Government of Japan and the UK Department for International Development, the industry event promises to impart business intelligence while also offering exporters, traders and buyers valuable peer networking opportunities.
“With its industry expertise, IFC is well-positioned to help Myanmar become a leading rice exporter in Asia as it used to be, improving livelihoods of millions of farmers and contributing to economic growth,” said Vikram Kumar, IFC Country Manager for Myanmar. “We will support key stakeholders such as farmers, millers and traders to boost rice production and quality as well as enhancing the sector’s competitiveness to respond to international market opportunities.”
As part of the Myanmar Rice Network 2017, IFC conducts a deep dive session on rice quality and standards, which analyzes the current shortages and challenges of the Myanmar’s rice industry and discusses the way forward to unlock its potential.
IFC has significantly scaled up its engagement in agribusiness in recent years. In the fiscal year ended in June 2016, IFC’s global investments across the agribusiness supply chain totaled $3.4 billion. IFC aims to help boost production, increase liquidity, improve logistics and distribution, and expand access to credit for small farmers. At the end of the fiscal year, IFC’s agribusiness portfolio stood at $5.6 billion.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org
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About The Rice Trader
The Rice Trader, LLC, has, since 1990 years, brought its subscribers crucial, up-to-the-minute information on rice trade through its weekly publication, The Rice Trader. Acknowledged as the only source of confidential information about the rice market, this weekly summary of market data analysis has helped both the leading commercial rice companies and the regional government officials make informed decisions, which are critical in today’s market. For more information, visit http://www.thericetrader.com .