Stringent market regulations prevent price increases

With the supply of fresh rice nearing, the trade depots bol­stered the sales of old rice stocks in the domestic market.

Monsoon paddy is newly harvested in some delta re­gions. There is adequate supply for the domestic market while there is high potential for rice exports. The new monsoon pad­dy will flood the market in the coming months, U Maung Win, a rice trader, told the Global New Light of Myanmar (GNLM).

The institutions concerned cooperated on the rice subsidy scheme and have sold thou­sands of rice sacks to consum­ers starting from 7 August.

Therefore, the rice can be purchased at a fair price through Yangon’s wholesale depots. The prevailing pric­es stood at K125,000 per sack of Pawsan rice from Shwebo, around K100,000 for Pawsan from other producing regions (Myaungmya, Pyapon, Maw­gyun, Bogalay), K96,000 for Pawkywel, K72,000 for 90-day short matured rice and K69,000 for rice grown under intercrop­ping system on 13 September.

Rice volatility would con­tinue unless there is no market regulation. Some traders who kept the rice stocks in hand earlier aimed to raise the pric­es of rice to over K150,000 for Shwebo Pawsan and K120,000 for Pawsan from delta regions. Thanks to market supervision, the soaring price did not reach those levels of highs. — TWA/ EM