By Vijian Paramasivam
PHNOM PENH, May 20 (Bernama) -- Myanmar’s agriculture sector loses an estimated US$8 billion (RM32 billion) annually because farmers do not fully utilise multi-cropping practices on their farmland.
Myanmar President Min Aung Hlaing told the business community last weekend that failure to meet production target goals for 10 major crops has resulted in significant losses for the economy, according to state media The Global New Light of Myanmar.
“If full multiple-cropping potential could be achieved on the existing cultivated acreage, the country could gain an additional annual benefit of about US$20 billion (RM80 billion),” the president said during a visit to Mandalay Region.
Multi-cropping is a practice where farmers plant two or more different kinds of crops in the same field to generate additional income.
He said the Mandalay Region’s gross domestic product is about US$9 billion (RM36 billion) per year, accounting for about 10 per cent of the country’s total gross domestic product.
Min Aung Hlaing’s new administration, which came to power on April 10, plans to overhaul the agriculture sector, a main pillar of its economy, under its 100-day goal after taking office.
The government will also focus on agriculture cooperatives and agro-based industries, and micro, small, and medium-sized enterprises to revitalise the sector.
In addition, modern aquaculture zones will be expanded across the country to modernise fisheries and aquaculture zones to generate nearly US$200 million (RM795 million) in revenue annually, reported the state media.
Myanmar’s agriculture sector has been facing multifaceted challenges for years, especially after the military coup in 2021, which has significantly weakened the sector’s growth prospects.
Farmers continue to grapple with inadequate agricultural technology, poor infrastructure, unreliable electricity supply, and recurring natural disasters, including typhoons, floods and the effects of climate change.
Myanmar remains one of the world’s major rice exporters, shipping about 2.7 million metric tonnes annually. Other major crops cultivated across the country include pulses, fruits, vegetables and oilseeds.
-- BERNAMA
