Upward trend of non-premium rice prices persists

The prices of low-grade rice varieties are still rocketing in the domestic market, according to the Myanmar Rice Traders Association (Wahdan Rice Depot).
The low-grade rice prices stood at K60,500-K69,000 per sack depending on varieties (rice grown under the intercropping system, Ngasein, Thipu, and Aemahta) on 1 December. The prices jumped to K68,000-K74,000 per sack on 29 December, indicating a sharp rise of K2,000-K8,000 per sack within one month.
Additionally, some Pawsan rice prices showed an increase of K15,000 per sack within one month at Yangon’s market.
The prices of some rice varieties remained unchanged at K100,000-K125,000 per sack of high-grade Pawsan from Pyapon, Myaungmya, Pathein, and Shwebo areas, K80,000 for Pawkywe and K72,000 for short-matured rice price (90 days), as per the wholesale prices announced by the Wahdan rice depot.
Myanmar Rice Federation (MRF) announced on 10 December reasonable market prices of rice for December. The reasonable market prices set for December are K60,000-K62,000 per 108-pound sack of Aemahta rice (25 per cent broken), K62,000-K64,000 for Aemahta rice (15 per cent broken), K64,000-K68,000 for Aemahta (10-5 per cent broken), K68,000-K72,000 for 90-day short mature rice, Pakan, Anyatha, special Aemahta rice varieties (10-5 per cent broken), K90,000-K95,000 for Ayamin, Ayeya Padetha (10-5 broken) and K80,000-K90,000 for Ayeyawady Pawsan rice and K90,000-K95,0000 Shwebo Pawsan (10-5 per cent broken).
The federation determined reasonable market prices by considering the following factors; fair profit for the farmers, millers, and distributors, reasonable prices for consumers, last year’s market price, global market prices, and other commodities prices.
Consequently, MRF encouraged the affiliated associations, members of commodity depots, exporters, and rice companies to sell the rice at a reasonable market price.
Nonetheless, there might be a price difference of five to ten per cent between the retail and wholesale market and 10-20 per cent for modern trade with consumer packaging at mini marts, according to the MRF. Those reasonable market prices weigh on the new monsoon paddy produced this year only, MRF stated.
To have a smooth trade, MRF urged the buyers to contact the MRF and the relevant wholesale centers.
Moreover, the federation notified on 21 September paddy reference price for the 2023 monsoon paddy and called for its affiliated companies, millers, and traders to buy the paddy at a reasonable market price during the monsoon paddy harvest season. — NN/EM