THE basic reference price for paddy will be maintained at K540,000 for 100 baskets of monsoon paddy grown in 2021 and summer paddy grown in 2022, according to an announcement released by the Committee for Farmers Rights Protection and Interests Promotion.
The basic reference price of 100 baskets of paddy, each basket weighing 46 pounds, will be K540,000 if the grains have a moisture content of 14 per cent, are free of dust, sand, gravel, and meet the set standards, the announcement stated.
The floor price is expected to be fair and supportive of sustainable development across the whole rice supply chain and accordingly to the Law of Protection of Farmer Rights, the committee said in its statement.
The Committee has also mentioned that if the market price is above the set price, the merchants have to purchase the paddy at the prevailing market price.
Farmers who have inconvenience selling at the basic price can contact the township agents of Myanmar Rice Federation (MRF) and MRF office’s contact 012301128, 01-2301129 and 01-218266.
Nearly 18 acres are put under monsoon and summer paddy in Myanmar yearly. In the 2019-2020FY, Myanmar planted 17.31 million acres of paddy, which is the lowest year for paddy cultivation in five years, the Ministry of Agriculture, Livestock and Irrigation stated. —Moe Pyat/GNLM
