Approval from MPBMSMA required for oilseeds export license

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Mawlamyine July 16

The regime’s Ministry of Commerce has instructed that those who wish to apply for an export license to export oilseeds must obtain the approval of Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association (MPBMSMA).

On July 13, the Ministry instructed the department of Trade to issue export licenses to those who wish to export various types of oilseeds such as peas and beans, sesame, corn, and groundnuts with the approval of the MPBMSMA.

In addition, when exporting oilseeds via border or sea routes, it is said that starting July 1, export licenses will only be issued for trade using US dollars.

A trader said that he applied to the Department of Trade to issue an export license with MPBMSMA’s approval, but if the authorities do not issue the license on time, there may be delays and market impacts.

If the traders export pulses, corn, sesame, groundnuts and oilseeds from the border after July 14th, they will be allowed to export only if they submit an export license along with proof of telegraphic transfer (TT).

Previously, goods exported from border trade zones were only allowed to be paid in Kyats, Baht and Yuan, but starting July 1, they were forced to set the value in dollars.

Traders say that because the military council has instructed that the next export will be allowed only if the previous bank receipt is presented, there may be a delay in exporting more goods in a timely manner, and the flow of goods to the border may decrease.

News – Than Lwin Times

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