Strong demand drives rice prices up

The prices of rice have slightly risen since 13 November on account of strong demand, Ko Kyaw, a rice trad­er from Lanmadaw Township citing the daily price updates of Wahdan Depot, told the Global New Light of Myanmar (GNLM).


The prices showed an increase of K3,000-10,000 per sack of low-grade rice in the Yangon market in mid-No­vember.


The figures indicated a sharp rise of K20,000-60,000 per sack of rice depending on the rice varieties compared to those recorded in the year-ago period.


Low-grade new monsoon rice fetches a high price of K63,000-64,000 per sack. The prices of sticky rice from Pyapon and Mawgyun areas were K105,000-117,000 per sack de­pending on the producing areas, rice traders involved in Bayintnaung Wholesale Centre said.


The price of low-grade new mon­soon rice was only K42,500 per sack in the corresponding period last year.


Similarly, the prices also jumped to K74,000-75,000 per sack of low-grade new rice cultivated under the double cropping system and K83,000- 85,000 per sack of new short-mature rice 990-day).


The old Pawkywe rice price also went up to K95,000 per sack on 15 November from K83,000 in the pre­vious days.


The price of new Pawsanyin rice increased to K100,000 per sack. Meanwhile, the price of old Ay­eyawady rice stayed unchanged at K128,000 per sack.


The new Pawsan rice varieties fetched K58,000-59,000 per sack in the second week of November 2022, whereas the old Pawsan prices moved in the range between K62,000 and K92,000 per sack depending on producing areas and different vari­eties. The prices of low-grade old rice stood at K45,000-46,000 per sack of rice cultivated under the double cropping system, K48,000-49,000 per sack of 90-day rice and K50,000-52,000 per sack of Pawkywe then. — TWA/ KK