Prices of high-grade Pawsan rice variety from Shwebo Township rose by K24,000 per bag in domestic markets.
On 1 July, high-grade Pawsan prices moved in the range between K49,000 and K66,000 per bag, while low-grade rice prices stood at K32,000 and K41,000 per bag.
On 16 August, the prices rose to K60,000-90,000 per bag for high-grade rice varieties and K35,500-50,000 per bag for low-grade rice varieties.
The figures indicated an increase of K9,000-24,000 per bag for high-grade rice varieties. The prices of low-grade rice varieties were up by K3,500-7,500 per bag.
Kyat depreciation against foreign currencies raised the prices of rice. The rice market experiences panic buying due to consumers’ concerns over the shortage of rice.
The Myanmar Rice Federation, Myanmar Rice Producers and Growers Association, Myanmar Rice Millers Association, and traders and brokers engaged in the Wahdan Rice Wholesale Centre and Bayintnaung Rice Wholesale Centre are working together on a scheme to offer rice at a reasonable price to the consumers at the Wahdan Rice Wholesale Centre starting from 3 August.
The prices will stand at K75,000-77,000 per bag of Shwebo Pawsan, K52,000-55,000 per bag of Ayeyawady Pawsan, K55,000-60,000 per bag of Kyapyan, and K35,000-37,000 per bag of short-matured rice varieties (90 days) at the Wahdan Rice Wholesale Centre.
Sales volume is limited to one bag per household. Those traders and retailers are not entitled to buy them. — NN/GNLM