The price of rice has increased by K150,000 per hundred baskets for Pawsan rice and about K200,000 per hundred baskets for low-grade rice since the beginning of February this year.
According to a rice mill in Wakema Township of the delta region on 5 February 2023, its purchase prices for rice on 18 November 2022 were K1.6 million per 100 52-lb baskets for Pawsan rice variety, K1.33 million per 100 50-pound baskets for low-grade Thukha rice variety, K1.26 million for Hnanka rice variety and K1.32 million for Latemalay rice variety. After three months, in early February, the price per 100 baskets went up to K1.9 million for the Pawsan rice variety, K1.55 million for the Thukha rice variety, K1.42 million for the Hnanka rice variety and K1.57 million for the Latemalay rice variety.
In the Yangon rice market on 4 February, the price per bag of rice rose to K60,000 for the low-grade Pakan rice variety, K52,000 for the new low-grade Manaw Thukha rice variety and K54,000 for rice grown under multiple cropping. Similarly, a bag of new Shwebo Pawsan rice variety has been priced at K88,000 and new Pathein-Myaungmya Pawsan rice variety at K74,000, the Pyapon rice variety at K70,000 and the Mawgyun rice variety at K68,000, said Ko Tin, a rice dealer at the Bayintnaung market.
In two weeks, the price shot up by K6,000 for a new bag of low-grade rice and around K8,000 for a bag of new Pawsan rice variety in the Yangon rice market. The new Shwebo Pawsan rice variety hit the record price of K1.6 million per 100 baskets on 2 January 2023 and K2.2 million per 100 baskets on 18 January.
When the price of rice goes up like this, so do most other kitchen goods in the market, affecting both high-income and low-income consumers. — TWA/CT
