Soaring rice prices persist in domestic market

The prices of rice that are mainly consumed locally are on an upward trend, according to the Wadan Rice Wholesale Centre.
On 28 April, Pawsan rice prices moved in the range between K72,000 and K105,000 per bag depending on the producing areas in Shwebo, Myaungmya, Dedaye, Pyapon and Pathein. New Pawsan rice fetched K80,000 per bag. Meanwhile, the prices stood at K87,000-K88,000 per bag for Kyapyan, K70,000 for Kunni, 55,000 for Ngasein, K65,000 for short-mature rice (90 days), K56,000 for Emahta, K70,000 for Pawkywe and K56,000 for rice grown under intercropping season.
In early May, the prices of Pawsan rice were still high at K85,000-105,000 per bag. The prices of various rice varieties were up by K1,000-13,000 per bag within a few days.
Rocketing paddy prices pushed up the rice prices.
Starting from 3 August 2022, Myanmar Rice Federation, Myanmar Rice Producers and Planters Association, Myanmar Rice Millers Association, and traders and brokers engaged in Wahdan Rice Wholesale Centre and Bayintnaung Rice Wholesale Centre have been working together to offer fair prices for Shwebo Pawsan from K75,000-77,000 per bag and other rice varieties to the consumers at the Wahdan Wholesale Centre.
Myanmar Rice Federation will join hands with the rice millers, rice traders and companies to stabilize the rice price and steer the market for the right price and the right product and encourage the mill owners to achieve performance balance between the short-term and long-term, as per the MRF’s notification dated 24 April.
Individuals and family entities can contact the rice wholesale centres for a fair price and the right product. For any difficulties, please contact the office of the MRF, as per the statement.
On 25 April, the prices of rice stood at K82,000-K1,060,000 per bag of Pawsan rice depending on producing areas (Shwebo, Myaungmya and Pyapon and Bogale), K72,000 for Pawkywe, K65,000 for short-mature summer rice (90 days) and K60,000 for monsoon Hnanka variety.
As the growers have sold the paddy out, the traders who keep the stocks in their hands are making great profits. Consequently, the price has risen. The price hike occurred three times in 2023.
Additionally, it will inspect those manipulators who spread malicious rumours on digital platforms to spark the concerns of the consumers and raise the rice prices for the sake of the long-term benefit of the rice industry. The federation will forward the reports to the relevant authorities. Those stakeholders in the supply chain need to exert concerted efforts in this.
At present, rice is steadily supplied to the domestic markets. The rice sellers are also doing a roaring trade, the Wadan Rice Wholesale Centre stated. — NN/EM