MADB to provide maximum loan ofK70 mln to individual farmers

The Myanma Agriculture Development Bank (MADB) made an announcement on 14 June stating that it will offer loans of up to K70 million to individual farmers who require financial support for agricultural and rural development purposes.
The loan amount has been capped at a maximum of K70 million per farmer, with an additional provision that each group of farmers can receive a maximum loan of K500 million. These two-step loans, issued by MADB, come with an annual interest rate of five per cent and are intended to facilitate plantation activities and rural development.
The loans will be disbursed to farmers for the purchase of various types of farming machinery and agricultural equipment, as well as for the construction and maintenance of factories and warehouses.
Repayment terms require farmers to pay back the loan three times over a span of three years for tractors and hand tractors, while for other equipment, repayment is set at five times over a period of five years.
Interested farmers can obtain detailed information regarding the loan terms, conditions, and the necessary guarantee requirements by contacting the nearest Myanma Agriculture Development Banks or regional banks. 

Source: The Global New Light of Myanmar

Top tourist arrivals inMyanmar: Thailand, Viet Nam,and Mexico lead the way

According to the Directorate of Hotels and Tourism, Myanmar welcomes the highest number of tourists from Thailand, Viet Nam, and Mexico primarily through the Yangon International Airport. From March to May 2023, a total of 2,695 foreign tourists arrived in Myanmar via this airport, as stated by the report.
The majority of visitors originated from Thailand, Viet Nam, and Mexico, with additional tourists hailing from countries such as Indonesia, Spain, the United States, and the United Kingdom, among others.
The statistics reveal that 822 foreigners visited Myanmar in March, followed by 612 in April, and 1,261 in May. This data demonstrates the steady influx of tourists to the country during this period.

Source: The Global New Light of Myanmar

Traders need to seek registration for rice storage by 26 June

The wholesalers are required to submit registration for rice storage for above 5,000 baskets of paddy and 1,000 rice bags (over 50 tonnes) by 26 June 2023 at the latest, Myanmar Rice Federation released a notification on 21 June.
Under the guidance of the Ministry of Commerce, MRF has been making efforts and participating in the development of the rice market, systematic registration for rice storage, fair market and price stability as the role of the private sector.
MRF stated that digital registration service through Online registration (MyRO) is underway to facilitate the registration process.
While the MyRO online registration system is being set up, trial operations of warehouse storage situations will be conducted in Nay Pyi Taw Union Territory, Yangon, Ayeyawady, Bago and Mandalay regions in June and July 2023. The MRF asked those traders to submit a complete registration form by 26 June 2023 at the latest through export@mrf.com.mm/ or Viber No 09.400067240 or to the office of the MRF in person.
The traders must create a warehouse inventory list to track the stocks. The Department of Consumer Affairs and the MRF will go on an inspection tour of the warehouses as a public-private partnership.
The companies are also notified to fill in the registration form according to the stock information of their business partners (millers and rice traders) in other regions.
Those traders who store above 5,000 baskets of paddy and 1,000 rice bags (over 50 tonnes) are included in this registration. Those farmers working on a small scale and the retailers holding hundreds of rice bags in their hands are not entitled to this notification, a rice seller highlighted. The administrative committee of the MRF also notified that trial operations to collect the warehouse storage data are free of charge. 

Source: The Global New Light of Myanmar

Black gram, pigeon pea prices volatile in Yangon market

Yangon’s pulses market sees price fluctuation of black gram and pigeon pea (red gram) in June 2023, traders involved in pulses trading pointed out.
The prices stood at K2,374,000 per tonne of black gram (FAQ/RC) and K2,609,000 per tonne of black gram (SQ/RC) and K3,050,000 per tonne of pigeon pea on 20 June. Black gram was priced at K2,237,500 per tonne while pigeon pea price touched a high of K3,200,000 per tonne on 19 June.
The figures showed a sharp rise of over K130,000 per tonne of black gram and a significant drop of K150,000 per tonne of pigeon pea within one day, U Hla Myint, a trader told the Global New Light of Myanmar (GNLM).
The prevailing price of black gram broke a record high of K2,456,000 per tonne on 17 October 2015.
The black gram price touched a high of K2,425,000 per tonne on 17 June and two days later, the price plunged to K2,237,500 per tonne. Similarly, the pigeon pea price hit an all-time high of K3.33 million per tonne on 5 June 2023 and 15 days later, the price was down by K300,000 per tonne. The pulses market sees a big price swing.
There are 17 million acres of monsoon and summer paddy plantations and 9.63 million acres of pulses and beans. The main buyer India had low pulses output in 2023 so the demand is increasing. The prices are therefore likely to remain on an upward trend.
There were 2.76 million acres of black gram and 1.59 million acres of pigeon pea in the 2017-2018 financial year, accounting for 37 per cent of the overall bean plantations. The export volume of black gram and pigeon pea totalled 750,000 tonnes at that time, which constitutes 57 per cent of overall pulses export volume.
Monsoon pulses cultivation season has started and the newly harvested pigeon pea will enter the market at the end of the year. 

Source: The Global New Light of Myanmar