Broken rice price soars to K45,000 per bag

The price of broken rice hit a high of K45,000 per bag in the domestic market, according to Rice Wholesale Centre (Wadan).
On 1 September, broken rice fetched only K32,000 per 108-pound bag whereas the price rocketed to K45,000 per bag on 26 September. Figures showed a sharp increase of K13,000 per bag within one month.
Foreign demand pushed up the price, traders shared their opinions.
More than 20,000 bags of broken rice are sent to China through the Muse border.
At present, the export value of broken rice to China is 128 Yuan per 50-kilogramme bag. Myanmar’s broken rice exports to China brought in a decent income on account of the Kyat devaluation against the Yuan.
Therefore, the broken rice price is higher than those of other low-grade rice prices on the back of strong foreign demand. Despite the price hike of broken rice, the prices of rice do not shoot up tremendously.
On 26 September, the prices of high-grade Pawsan varieties were constant at K93,000 per bag from the Shwebo area, K63,000 from the Dedaye area, K65,000 from Pyapon, Myaungmya and Pathein areas and K63,000 from other areas. Meanwhile, the prices of short-mature rice (90 days) touched a high of K48,000 per bag. The prices of low-grade rice varieties such as Ngasein and Emahta moved in the range of K43,500-46,000 per bag respectively.
Therefore, Myanmar Rice Federation, Myanmar Rice and Paddy Traders Association, Myanmar Rice Millers Association, and traders involved in rice wholesale centres (Wadan and Bayintnaung) have offered the rice at a cheaper rate from 3 August every day between 9 am and 3 pm except for office holidays.
Ayeyawady Pawsan, Shwebo Pawsan, Pawkywe and short-mature rice varieties (90 days) will be sold at a cheaper price between K35,000 and K77,000 per bag.
Each household is entitled to buy one rice bag only and those resellers, traders and retailers are excluded from this scheme. — NN/GNLM