Foreign demand may push up price of low quality rice

DSCF1101 A farmer harvests rice in centarl Myanmar. Photo Aye Min Soe copy
A farmer harvests rice in centarl Myanmar.  Photo: Aye Min Soe

With increasing demand from both the sea route and Muse border in the post-Thingyan period, low quality rice is expected to cost a bit more in the local market, U Than Oo, secretary of Bayintnaung rice depot, told Myawady Daily.
A bag of low quality rice bag brings in between Ks25,000 and Ks26,500 in Bayintnaung market. The price may increase by Ks2,000 to Ks3,000 per bag.
Trade flow from Muse to China has been smooth so far. Additionally, rice will be shipped to foreign countries via sea by the end of this month. As a result, the demand is higher.
The high price of rice is not related to the civil service salary adjustment announced recently. In addition to setting the basic price of paddy, the cultivation of marketable paddy leads to an increase in demand.
The price will go up in the coming monsoon season, said U Than Oo.
Some 3.5 million tonnes of rice were exported in the 2017-2018 fiscal year via sea, as well as through the border gates, according to the Myanmar Rice Federation.

Share this post
Hot News
Hot News