High-Grade old Pawsan rice variety from the Shwebo area rose above K100,000 per bag, according to the Wadan Rice Wholesale Centre.
The rocketing price of old Pawsan rice from Shwebo pushed up the price of old Pawsan paddy from Shwebo to K2.7 million per 100-baskets.
The price was stable at K93,000 per bag between the last week of October and 11 November 2022. The price went up to K97,000 per bag. The figures show a significant increase of K40,000 per bag within two weeks.
On 13 January 2023, the price of old Shwebo Pawsan surged to K105,000 per bag from K99,000 per bag. The figures indicated an increase of K6,000 per bag within three days.
Similarly, the price of new Pawsan rice also increased to K80,000 from K72,000 per bag on the same day at Yangon markets, showing an increase of K8,000 per bag within three days.
Starting from 3 August, Myanmar Rice Federation, Myanmar Rice Producers and Planters Association, Myanmar Rice Millers Association, and traders and brokers engaged in Wadan Rice Wholesale Centre and Bayintnaung Rice Wholesale Centre have been working together to offer fair prices for Shwebo Pawsan from K75,000 per bag and other rice varieties to the consumers at the Wadan Wholesale Centre.
The offer prices are K52,000- 55,000 per bag of Pawsan from the Ayeyawady area, K55,000- 60,000 per bag of Kyapyan, and K35,000-37,000 per bag of short-matured rice varieties (90 days) at the Wadan Rice Wholesale Centre.
Each household is able to buy only one bag. Those traders and retailers are not entitled to buy them.
On 16 January, the prices stood at K63,000 per bag of old Pawsan varieties produced in the Dedaye and Pyapon areas, K65,000 from Myaungmya and Pathein areas, and K67,000 from Pyapon while the prices of other Pawsan varieties are estimated at K63,000 per bag.
New Pawsan prices moved in the range between K61,100 and K67,000 per bag depending on producing areas. The Kyapyan variety is valued at K67,000- 71,000 per bag, whereas the short-matured rice variety (90 days) is worth K47,000-K51,000 per bag. The prices of low-grade rice were K44,000-54,000 per bag depending on varieties (Emahta, Meedone). Rice grown under the intercropping system was priced at K43,500-48,500 per bag. — NN/EMM