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Myanmar Market Holds Promise For U.S. Soy

By Jdelcarmen
 
A WorldCity analysis of the latest U.S. Census Bureau data shows that Myanmar’s (Burma) trade with the U.S. rose to $674.65 million in the first six months of 2020, a 39.47% increase over total trade during the same time period in 2019. U.S. exports to Myanmar increased 27.01%. In particular, soybean oilcake (other solid residue, not ground) rose 31.31% compared to last year. Year to date, Myanmar has imported soybean oilcake from the U.S. valued at $42.81 million and U.S. soybeans valued at $6.77 million.[1]
 
Additionally, Timothy Loh, USSEC Regional Director – Southeast Asia, states, “Our U.S. soybean meal exports to Myanmar this season have been very good.”
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