Low-grade rice prices fall back in domestic market
- Mon, 16 October 2023
The prices of low-grade rice experienced a bear market after the price rallies in previous months, indicating a decrease of K2,000-10,000 per sack depending on the rice varieties, according to the Myanmar Rice Traders Association (Wahdan Rice Depot).
The prevailing prices of low-grade rice move in the range between K60,000-88,000 per sack depending on varieties (Pawkywe, Kunni, Ngasein, Aemahta and Thipu). The prices of those rice varieties touched a high of K68,000-98,000 per sack.Meanwhile, the prices of high-grade Pawsan rice from the Pyapon and Dedaye areas also declined to K96,000-98,000 per sack in early October from K100,000 recorded at the end of September.
However, the prices of high-grade Pawsan from Myaungmya, Pathein and Shwebo remain unchanged at K100,000-125,000 per sack. MRF, in cooperation with affiliated associations, rice companies, millers and traders, are offering the rice at a fairer price through respective sales programmes; sales for civil staff and factory workers, sales at rice depots, distribution plan to regions and states, mobile market scheme and selling rice at tax free markets in some townships.
The MRF launched a subsidy scheme for Pawsan and Aemahta rice varieties on 7 August at Wahdan and Bayintnaung Commodity Wholesale Centres. Each consumer is entitled to buy a sack of Pawsan rice and a sack of Aemahta rice per month, presenting the citizenship scrutiny card.
The rice prices are set at K110,000-120,000 per sack of Pawsan from the Shweboarea, K94,000-97,000 for Pawsan from Ayeyawady, K65,000 for Aemahta (10 per cent broken) and K60,000 for Aemahta (25 per cent broken) respectively.