Acting on a tip-off, anti-narcotics police searched a vehicle in Kyaukse township of Mandalay region on October 27 and confiscated the drugs, state-run The Mirror daily reported on Saturday.
Two suspects on board the vehicle were arrested, and the seized narcotics had a street value of approximately 1.32 billion kyats (about $628,571), Xinhua news agency reported quoting The Mirror.
An investigation showed that the narcotics were being transported from Shan state and intended for delivery to Kayin state, it said.
The suspects have been charged under the country's drug laws, and further investigation is ongoing, it added.