CNI News
26 June 2024
To control the rise in domestic rice prices, rice would be sold at a lower price within Yangon Region, announced the Myanmar Rice Federation.
After authorities had summoned rice traders for inquiries and taken actions regarding the increase in the price of rice, the MRF's statement arose.
In controlling the rice market, the government needed to systematically tackle the market, taking into account of the traders' interests and if it carried out by force, rice mills would not operate.
And then, rice could be scarce in the market and the black market could arise, U Thein Aung, chairman of the Farmers Development Association, told CNI News.
While seeing a rice shop
" It's necessary to maintain the market at a reasonable price. It's not easy to control so as not to raise the price at all. After negotiations to an extent for the sake of traders, for example, traders are allowed to raise the price by 5 percent every month. If those who are trading on a large scale are controlled by force, domestic rice mills won't dare to operate. And then, rice will be scarce and the black market will arise." he said.
The Wadan and Bayint Naung Wholesale Centers would sell Shwe Bo Pawsan Hmwe at 135,000 to 145,000 kyats per bag and Aemahta at 70,000 to 72,000 kyats per bag reportedly.
And then, as retail sale, one pyi of fine rice will be sold at 5,000 kyats and coarse rice, at 3,000 kyats reportedly. One household can buy a bag of fine rice and a bag of coarse rice reportedly.
However, selling rice like this would be convenient just for the people living in Yangon Region, but it wasn't convenient for the people in other regions. So, it could not helpful for the stabilization of the price of rice, reviewed some people.
While seeing a rice shop
As the government, if it wanted to stabilize the price of rice, when the rice paddy appear abundantly, it should buy a lot of rice as a reserve and sell it when the price of rice was going up, U Aye Win, a rice trader, told CNI News.
" Like reserve rice, rice paddy that was bought at 16 or 17 lakh kyats for 100 baskets when the paddy appeared abundantly should be milled and sold to real consumers when the price of rice go up. By doing do, the price can be maintained so as not to make the price higher. But when 1,000 bags of rice are allowed to be sold, only 500 bags are sold as directed, it is necessary to control so as not to make the remaining 500 bags arrive in the black market." he said.
The current price of Shwe Bo Pawsan in the domestic market is until 190,000 kyats per bag and Ayeyarwady Pawsan, 120,000 to 150,000 kyats. Moreover, the price of coarse rice is from 80,000 to 110,000 kyats reportedly.
The price of rice tend to go up at a time like this of the year and the price could go up until September, said farmers.
