CNI News
14 August 2023
Commodity price cannot be controlled by selling rice and oil in the public square, said U Thet Zaw, an economic analysts to CNI News.
Myanmar Rice Federation is selling 5 pyis of rice (one pyi is equal to about 4.375 lb) on an unlimited basis and 1,000 viss of edible oil from which one viss (3.6lb) for a person each day reportedly.
It is daily selling a person one pyi of Aemahta at 2,500 kyats, Ayeyarwady Pawsan at 4,000 kyats and one viss of edible oil at 4,400 kyats if a buyer have a container and at 5,500 kyats for a buyer without a container reportedly.
Edible oil is being sold at a lower price
Residents from other townships that is far away from the public square would find it difficult to cmoe and buy the rice and edible oil, said U Thet Zaw, an economic analyst to CNI News.
" How a Hlaing Thar Yar resident can come and buy the rice and edible oil? Why are the shops in the quarters selling goods at higher prices? Authorities must investigate why. So that commodity prices will fall. How a person in South Dagon or North Dagon will come for 4 or 5 pyis of rice" he said.
Going to the townships in which most of grassroots and factory workers and selling rice at about three places per township at lower rate could fall commodity prices, said U Thein Aung, chairman of the Farmers Development Association to CNI News.
Edible oil is being sold
" It's not easy to come to the public square. For example, if you go and sell the rice to Hlaing Thar Yar by about three cars, commodity price will fall in Yangon." he said.
Although the Myanmar Rice Federation sold 50,000 bags of reserve rice (a bag of rice is equal to 105 lb) to the people in July to stabilize the commodity price, rice prices did not fall and has gone up any more.
In the next 2 months, new rainfed rice will appear abundantly. So, high rice prices can be controlled by selling the State reserve rice sufficiently now and other prices may fall, said traders and farmers.
