Market regulatory practices by institutions concerned led to rice price stability in September, helping reduce consumers’ concerns.
The prices of rice were more volatile in mid-2023 than mid-2022. Starting from 7 August, the rice subsidy scheme commenced to offer the rice at a fairer price for consumers. The Myanmar Rice Federation bolstered rice subsidy schemes in various regions.
The prices stood at K125,000 per sack of Pawsan rice from Shwebo, K100,000 per sack of Pawsan rice from other producing regions (Myaungmya, Pyapon, Mawgyun and Bogale), K96,000 per sack of Pawkywe, K72,000 per sack of 90-day short-mature rice variety and the K69,000 per sack of rice grown under the intercropping system on 14 September. Unless there is market intervention, rice prices would move up for sure. However, rice adulteration involving cheap and low-grade rice with high-grade rice was detected. So, the retailers are vigilant about rice adulteration fraud. The new rice will soon flow into markets so the traders boost the sales of old stocks. They prioritize an increase in sales.
The price of high-grade Pawsan rice in Yangon and Shwebo areas is the same at K125,000 per sack.
Yet, the price is still high at K150,000 per sack in Monywa. Pawsan paddy is priced at K3.7 million per 100 baskets in the Shwebo and Monywa areas, as per the price data of those regions. — TWA/EM
