Myanmar's rice export to China expected to rise after water festival

YANGON - Myanmar's rice traders expected the country's rice export to China to rise after water festival, official media reported Friday.

Rice traders in Muse, Myanmar's largest border trade zone located in northern Shan State, said new summer rice will enter the market after Thingyan Water Festival.

Merchants are facing low demand as the rice price rises in local market. The price of rice for 20.9 kilograms has decreased to 20,000 kyats ($16) in Muse trade zone.

Myanmar mainly exports agricultural products and fish products through border trade and import consumer goods, electronics and machinery.

Myanmar exported over 1.4 million tons of rice to neighboring countries, mostly to China. The total of border trade value in the fiscal year 2015-2016 reached $7.04 billion.