CNI News

November 21, 2024

Because global price of rice was falling, local price of rice also could fall, the Myanmar Rice Federation (MRF) told CNI News. 

The global price of rice, in comparison with last week, has declined by over one percent this week. 

There have been changes in the global price of rice since the last week of October 2024 while the changes in the price of rice has taken place in Myanmar as well.

So, when rainfed paddy appears abundantly, because new rice will come into the local market, the price of rice might go down, U Ye Min Aung, chairman of the MRF, told CNI News. 

" In December, rainfed paddy will have appeared abundantly. Now that paddy has appeared, new rice has started entering the market. So, the price of rice is stable. The rice is sufficient for the local consumption. As the global price of rice is declining, local price of rice also can go down fairly." he said.

While bags of rice are being carriedWhile bags of rice are being carried

Although local price of rice often went down, as the yield of rainfed paddy this year decreased due to irregular weather. 

If the price of rice decreased, the price of paddy would decrease. 

As a result, profit that farmers would earn could be lower. 

So, efforts should be made to make the price of rice reasonable, former chairman of the Farmers Development Association, U Thein Aung told CNI news.

" This year rainfed paddy appears in November and December. The yield this year might not be half of the last year. The paddy was sunk this year. When the paddy is ripe now, as the paddy is sunk,  it's necessary to consider to become a reasonable price. Otherwise, the profit farmers will earn will be fewer." he said.

At present, in the local market, the price of Pawsan rice from Pyapon, Myaungmya and Dedaye is from 115,000 to 125,000 per bag while the price of Shwebo Pawsan rice is from 140,000 to 150,000 kyats per bag.

The prices of Aemahta rice and Ngasein rice are from 3,000 to 5,000 kyats per pyi.