Myanmar Rice Federation warns against selling rice at high prices

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Yangon, 9 December

The Myanmar Rice Federation (MRF) issued a notice on December 8 that there is a surplus of rice available on the domestic market and that prices should not be increased.

The government and the private sector have announced that they are working to investigate and control those who intentionally buy and store rice at a low price and resell it at a high price, destabilizing the rice market and prices.

The statement suggests that consumers should only purchase the quantity of rice they actually need and that hoarders, traders, and companies should abide by the rules to prevent burdening customers.

A rice miller said, “The MRF is saying that there is a surplus of rice, but it is becoming difficult to buy rice, and the price of raw rice has risen to 20 lakhs.”

In addition, this year’s rice yield has been significantly reduced, and rice prices have risen due to problems with harvesting, transportation, power outages, and high fuel prices for generators, he added.

A farmer said that in practice, the paddy was destroyed by natural disasters, and the authorities did not allow us to sell rice freely by controlling the price of rice.

According to the MRF, floor prices for each type of rice have been set for members to follow since before the current monsoon rice season, and reasonable rice prices have been set every month.

At the moment, consumers pay 120,000 kyats for a bag of quality rice, Paw Hsan Hmway, and the Emahta group of coarse rice costs more than 70,000 kyats.

Myanmar, which owns nearly 18 million acres of rice, produces more than 25 million tons of rice every year, but due to high general costs, difficult transportation, and regional instability during the military council, people have to pay high prices for rice.

News-Than Lwin Times

Photo-CJ

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