Tuesday, January 22, 2013

South Koreans to bid for Burma’s unpolished rice

Tuesday, 22 January 2013 11:45 Khin Myo Thwe

A South Korean company has offered to buy 70,000 tons of unpolished rice from Burma, according to the Myanmar Rice Federation (MRF).

“Korean-based Samsung CAT Company came here to negotiate with MAPCO [Myanmar Agribusiness Public Corporation] and offered to purchase 70,000 tons of unpolished rice. If MAPCO are able to deliver that quantity, then the Koreans need to submit a tender in February,” Dr. Soe Tun, a spokesman for MRF, told Mizzima.

He added that if the tender is accepted, MAPCO will be expected to deliver 10,000 tons per month of unpolished rice, or brown rice, beginning in March.

“We will sell the rice at the FOB [free on board] price of US $370 per ton,” said a MAPCO director. “If we begin exporting rice to Korea, it will be our second foreign market. The first was Japan.”

Burma currently exports rice to Africa, Russia, China, Indonesia and India.
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