Rice price skyrockets in domestic market

The prices of new rice spiked in the domestic market, according to the Wadan Rice Wholesale Centre. On 20 January 2023, new Pawsan rice prices moved in the range between K61,000 and K80,000 per bag depending on the producing areas (Shwebo, Myaungmya, Dedaye, Pyapon and, Pathein). Three days after, the prices moved up to K63,000-84,000 per bag. Figures indicated an increase of K2,000-4,000 per bag within three days.

Similarly, the prices of low-grade rice stayed between K43,500-67,000 per bag depending on different varieties (Kyapyan, Emahta, Meedone, Ngasein) on 20 January. The prices touched a high of K45,500-70,000 per bag on 23 January, showing a steep rise of K1,000-4,000 per bag depending on different varieties. High demand for paddy in the market 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 Wadan 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 Wadan Wholesale Centre.

The offer prices are K52,000-55,000 per bag of Pawsan from the Ayeyawady area, K55,000-60,000 per bag of Kyapyan, and K35,000-37,000 per bag of short-mature rice varieties (90 days) at the Wadan Rice Wholesale Centre. Each household can buy only one bag. Those traders and retailers are not entitled to buy them.

Source: The Global New Light of Myanmar

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