Rice prices remain high despite selling reserved rice

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Mawlamyine, 1 October

The Myanmar Rice Federation is selling reserved rice to reduce the price of rice, but the prices remain high in the market, rice traders told Than Lwin Times.

The Myanmar Rice Federation (MRF) has been selling rice at lower prices since August 7 in order to reduce and stabilize the price of rice, however, the price of rice has not yet dropped.

The price of Shwe Bo Paw San rice, which was only around 130,000 kyats per bag in the first week of August, is now over 145,000 kyats, and the price of Paw Kywe rice has increased from around 86,000 kyats to over 110,000 kyats.

A rice entrepreneur said that the price of rice has not decreased yet due to the increase in production costs and the price of paddy.

The price of rice remains high because of an increase in transportation costs due to climbing fuel prices, the use of large generators to mill rice amid power outages, and other general costs.

A local resident told Than Lwin Times, “The sale of reserved rice is only as a show in the cities, so the price has not yet fallen.”

The MRF has sold 50,000 bags of 50 kg of 25% polished rice among reserved rice to reduce the price of rice and will sell more if necessary.

The MRF has sold one bag of Paw Hsan rice and one bag of Emahta rice for a month to anyone who can show their National Identification Card.

In an effort to control rice prices, the military council announced in May that those who want to store more than 50 tons of rice and 5,000 baskets of paddy in the country need to register, and if they do not comply with the rules, they will be taking action.

A bag of Paw San rice cost roughly 30,000 Kyats, while a bag of Paw Kywe rice cost just around 29,000 Kyats before the military takeover under the NLD administration, and the price of rice surged more than fourfold after the military coup.

News-Than Lwin Times

Photo- Mon Min Thar

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