Bulk supply of rice causes price slide

The prices of rice and rice crops slipped owing to the bulk supply of rice in the domestic markets, traders said. The prices of rice crop in domestic markets stand at K616,000-K920,000 per 100-baskets. At present, the rice worth of K43,000-K50,000 per bag is highly demanded in the domestic market. The prices of high-quality rice move in the range of K34,500-K58,000 per bag, Bayintnaung Rice Wholesale Centre’s price data indicated. Meanwhile, the low-quality rice fetches K2,2500-K2,3500 per bag.

Low-quality rice was mostly purchased by Chinese traders yet COVID-19 restriction measures negatively affected the border trade between Myanmar and China. At present, traders turned to maritime trade for rice export. Myanmar shipped rice and broken rice to China, regional countries and European Union countries through maritime trade. Trading in the domestic market is quite sluggish amidst the excess supply.

Myanmar has shipped more than 801,000 tonnes of rice and broken rice to foreign trade partners between 1 October and 30 December in the current six-month mini-budget period (2021-2022), Myanmar Rice Federation stated. Myanmar also generated an income of US$700 million from 2 million tonnes of rice exports to the foreign countries in the past 2020-2021 financial year. About 80,000 bags of rice and broken rice were earlier traded per day at the Bayintnaung Rice Wholesale Centre, whereas the trade volume plummeted to about 30,000 bags.

Source: The Global New Light of Myanmar


Second batch of Covaxin COVID-19 vaccine (1 mln doses) donated by Nippon Foundation arrives in Yangon

A Qatar Airways Flight was landed at the Yangon International Airport yesterday morning, carrying a total of 1 million doses of Covaxin COVID-19 vaccine, donated by the Nippon Foundation of Japan through the Myanmar Red Cross Society. The Nippon Foundation donated 2 million doses of the vaccine worth of USD 17 million to Myanmar, and the first one million doses arrived on 9 January.

Officials from the Yangon Region Public Health Department received the vaccines and have stored them at the Central Cold Room under the specific temperature. The Ministry of Health has been conducting COVID-19 vaccination throughout the country as per priority groups. As of 22 January, 18.25 million people have been vaccinated twice and 3.49 million people have been vaccinated once, making 21.74 million people having been vaccinated at least once.

Therefore, a total of 40 million doses of COVID-19 vaccine have been administered in Myanmar. The Ministry has bought 45 million doses of the vaccine and received more than 15 million doses. The people are urged to not miss a dose of the COVID-19 vaccine given to them, and those who have received their first doses are also encouraged to visit nearby immunization centres for the second dose and to actively participate in the immunization activities, according to the Ministry of Health.

Source: The Global New Light of Myanmar