Pawsan prices surge amid high demand in Ayeyawady Region

  • Wed, 13 March 2024

Pawsan prices surge amid high demand in Ayeyawady Region

Pawsan paddy is priced up to K4 million for 100 baskets as a result of high demand in Ayeyawady Region, according to the Ayeyawady Region Rice Millers Association.

In the region, the price of ordinary paddy was around K2.2 million, and high-quality paddy was K3.7 million for 100 baskets in January. The price of high-quality pawsan paddy climbs higher than K300,000 for 100 baskets this month.

“Now, the price of rice and paddy can’t be predicted. We could make predictions before. The price goes down when a new supply is available, goes up in the transition from one season to another, and declines back when a new crop is harvested. After that, the price stays on the rise continuously and declines again when monsoon paddy is harvested. This is a formula. Right now, the supply has become low in some areas, so the Pawsan price will be on the increase, with no likelihood of a decrease. The market price for Pawsan is between K3.8 million and up to K4 million. It is the nature that demand is high when the supply is low. It has also resulted from those who stocked for the purpose of making profits,” said an official from the association.

In this year, the remaining rice and paddy stocks are larger than last year’s. However, some traders are found to keep holding their stock due to high prices. Therefore, the Myanmar Rice Federation has made efforts to bring the remaining paddy to the market from traders, said MRF President U Ye Min Aung.

“Both remaining rice and paddy stocks are much larger than last year. But, even some farmers don’t sell much because the price is pretty good now. Traders also have remaining rice and paddy stocks. We have plans to bring remaining rice and paddy stocks from traders to the market,” he had said.