The price of high-grade Pawsan rice from the Shwebo area rocketed to K145,000 per sack on 21 August 2023, according to Myanmar Rice Wholesale Centre (Wadan).
The Central Bank of Myanmar’s issuance of the new K20,000 note on 23 July shook up the forex market. Consequently, rice is among those inflated commodities.
Before the CBM’s notification regarding the issuance of the K20,000 note, the Shwebo Pawsan rice fetched only K112,000 per sack on 23 July 2023. Then, the rice price rallied to K145,000 per sack on 21 August, showing a sharp rise of K33,000 per sack in the past one month.
Similarly, the prices of other rice varieties are on an upward trend. The prices of old Pawsan rice hit K110,000-122,000 per bag depending on producing areas (Myaungmya, Pathein, Pyapon and other regions), while rice prices stood at K98,000 per bag of Kunni, K70,000 for Ngasein, K68,000-69,000 for Aemahta, K100,000 for Pawkywe, K70,000 for rice grown under intercropping system and K110,000 for new Pawsan rice variety, as per the price data released by Myanmar Rice Wholesale Centre (Wadan).
Myanmar Rice Federation (MRF) notified on 7 August that it would sell off 170,000 rice sacks in August, comprising 50,000 rice sacks of Aemahta variety, 20,000 sacks of Pawsan rice and 100,000 sacks of short matured rice Aemahta variety (90 days). The federation will increase the sales quota when necessary.
The MRF launched a subsidy scheme for Pawsan and Aemahta rice varieties on 7 August at Wadan and Bayintnaung Commodity Wholesale Centres.
Additionally, the MRF is preparing to designate shops in some townships such as Hlaingthaya, Shwepyitha, Insein, South Dagon, North Dagon, South Okkalapa, North Okkalapa, Dala, Twantay, Hmawby and Mingaladon and operate mobile market trucks, as per the public suggestions. The MRF will keep the consumers apprised of that scheme.
The MRF will systematically distribute 50 sacks of Aemahta rice per retail shop in Yangon Region every two weeks. The retail shops can register with the MRF for that and door-to-door service will be included after making payment with KPay.
The rice prices are set at K110,000-120,000 per sack of Pawsan from the Shwebo area, K94,000-97,000 for Pawsan from Ayeyawady, K65,000 for Aemahta (10 per cent broken) and K60,000 for Aemahta (25 per cent broken) respectively.
The consumers are entitled to buy a rice sack of Pawsan rice and a rice sack of Aemahta rice per month, presenting the citizenship scrutiny card.
Moreover, the staff from the government departments, factories and companies can buy the rice with an official letter by sending a purchase letter to ad[email protected].
For further detail, consumers can contact the MRF through phones 09 400067260, 09 400067270 and Wadan Depot via phones 01 8221448, 01 8220131, 01 8210287 and the Bayintnaung depot via number 09 769029428.
Myanmar has achieved self-sufficiency in rice and only the excess rice is exported systematically. At present, rice crops are being harvested in the northern Bago Region and central Myanmar Region. With the electricity supply improving, rice mills could run operations fully. Therefore, the production meets the consumption for sure. Nevertheless, those unscrupulous are spreading malicious rumours and fake news to trigger consumers’ concerns and spark panic buying. The federation hereby requested on 28 July the consumers to stop panic buying and buy the rice when one needs.
Myanmar Rice Federation will endeavour to stabilize the rice price and steer the market for the right price and the right product. The MRF will join hands with the rice millers, rice traders and companies. The federation called on them to balance the short-term and long-term benefits in trading, as per the MRF’s notification dated 24 April.
Individuals and family entities can contact the rice wholesale centres for fair price and right product. For any difficulties, please contact the office of the MRF, as per the statement.
Myanmar Rice Federation notified on 24 April that tips-off about those manipulators who spread malicious rumours on digital platforms in order to spark concerns of the consumers and raise the rice prices can be done for the sake of long-term benefit of the rice industry.
The federation will forward the reports of those manipulators to the relevant authorities if they refuse to be persuaded. The federation encouraged all the stakeholders in the supply chain to cooperate with them as well. — NN/EM
