The prices of rice that are primarily consumed showed a rise of K2,000-K15,000 per sack within one month, according to the Myanmar Rice Traders Association (Wahdan rice depot).
The non-premium rice moved between K68,000 and K80,000 per sack depending on varieties (Aemahta, rice grown under the intercropping system). Pawsan premium quality prices are K100,000-K125,000 per sack depending on producing areas (Myaungmya, Pyapon and Shwebo) on 1 January in Yangon’s wholesale market.
The prices hit K70,000-K92,000 per sack of ordinary rice and K110,000-K135,000 per sack of Pawsan rice varieties on 30 January.
Additionally, the reasonable market prices for January were set at K70,000-K72,000 per 108-pound sack of Aemahta rice (25 per cent broken), K72,000-K75,000 for Aemahta rice (15 per cent broken), K75,000-K78,000 for Aemahta (10-5 per cent broken), K80,000-K85,000 for 90-day short matured rice, Pakan, Anyatha, special Aemahta rice varieties (10-5 per cent broken), K95,000-K100,000 for Ayamin, Ayeya Padaytha, Ayamin (5-10 per cent broken), K100,000-K110,000 for Ayeyawady Pawsan rice and K90,000-K100,000 for non-premium Shwebo Pawsan, K110,000-K115,000 for Ayeyawady Kyapyan (5-10 per cent broken) and K125,000-K135,000 for Shwebo Pawsan (5-10 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. Yet, the market price was found to be way higher than the reasonable prices in November and December 2023. Therefore, the federation rigorously reflected on high market rates.
Consequently, MRF encouraged the affiliated associations, members of commodity depots, exporters and rice companies to follow the price.
Nonetheless, according to the MRF, the price difference is five to ten per cent between the retail and wholesale markets and 10-20 per cent for modern trade with consumer packaging at mini-marts. MRF stated that those reasonable market prices only influence the new monsoon paddy produced in 2023.
MRF urged the buyers to contact the MRF and the relevant wholesale centres to have a smooth trade.
The federation notified on 21 September paddy reference price for 2023 monsoon paddy and called for its affiliated companies, millers and traders to buy it reasonably during the monsoon paddy harvest season. — NN/EM
