Mawlamyine, Januayr (27)
The price of rice in Mon State, which had been steady for months, unexpectedly skyrocketed in the final week of January, the rice traders told Than Lwin Times.
Rice prices have risen sharply due to high transportation and general expenses, as well as low rice stocks in the state.
The price of 120 pounds of quality rice was nearly 16 lakhs in the first week of January, and it rose to 18 lakhs in the last week of January, while the price of coarse rice rose from 13 lakhs to 16 lakhs.
The cost of a bag of Paw-Hsan climbed from 59,000 to 62,000 kyats with the price of paddy, and the price of a bag of Emata ,coarse rice, jumped from 45,000 to 50,000 kyats.
According to the owner of a rice mill, the price increase is due to a diminishing supply of rice in the state and some traders raising the price of rice.
He said the price of rice has risen due to power outages during the military coup, rising fuel prices, high transportation costs, and higher production costs.
Rice traders predict that the price of rice may rise again in the coming months due to the low availability of paddy rice and transportation issues.
According to a rice farmer, despite rising rice prices, the farmers have run out of rice and are losing money.
Additionally, due to the excessive rise in input costs and high general expenses following the military takeover, farmers made little money, and those who were unable to apply fertilizers had poor rice yields and faced losses.
Mon State has nearly 700,000 acres of rice, and produces more than 43,000,000 baskets of rice every year. They are milled and exported to different regions and states.
However, following the military coup, the price of rice nearly doubled, causing the people to suffer from the high price of rice.
News-Than Lwin Times
Thanlwintimes