CNI News
3August 2022
Prices of Pawsanhmway paddy recently hit MMK 1.4 million per 100 baskets in the market, according to merchants in Ayeyarwady Region.
Prices of fine grain Pawsanhmay variety reached as high as MMK 1.4 million while its rough counterpart was traded between MMK 900,000 and MMK 1 million per 100 baskets, Chairman U Thein Aung of Myanmar Farmers Development Association told the CNI.
U Thein Aung said, “Paddy prices have hit MMK 1.4 million per 100 baskets for fine grain varieties like Shwebo Pawsan and Pawsan Baygyar in the lower parts of the country. Their rough grain is traded between MMK 900,000 and MMK 1 million per 100 baskets. For example, the Thukha variety is traded at MMK 1 million per 100 baskets while the DW11 variety is available at MMK 900,000 per 100 baskets.”
It was learnt that paddy traded currently in the market was harvested in December and purchased by merchants at MMK 900,000. Now, the stock is running low and prices have hit their current levels.
Harvest of Pawsanhmway paddy
On the other hand, farmers have faced high cultivation and input costs while fuel oil prices are rising.
Traders who stored paddy raised the prices after adding higher transportation charges, storage costs and returns from their financial investment.
As new Pawsanhmway paddy cannot be harvested until December, paddy prices are likely to rise further, added U Thein Aung.
U Thein Aung told the CNI, “Prices of fine grain paddy are likely to rise further until October and November because new paddy cannot be harvested. Although rough grain paddy consumed by lower social classes and farmers can be harvested in the next two months, it will take another four months to harvest Pawsanhmway.”
Prices of Pasanhmway paddy were likely to fall from MMK 1.4 million currently to about MMK 1 million per 100 baskets during the upcoming harvesting season, U Aye Naing, a farmer from Bogalay Region, told the CNI.
Farmers thresh paddy
U Aye Naing said, “Prices of the Pawsan Baygyar variety in Bogalay are as high as MMK 1.5 million per 100 baskets but when new paddy is harvested and available in hube volumes in the market, prices tend to fall considerably.
However, farmers expect to sell their new paddy at about MMK 1 million per 100 baskets. and have grown paddy. As farming is their livelihood, farmers will have to grow rice, whether it is profitable or not. They have no other jobs.”
Farmers had to reduce the use of inputs like fertilizers last year due to higher cultivation costs and paddy yields dropped.
As input costs this year were three times as high as last year and farmers had to reduce the use of fertilizers, this year’s paddy yields are likely to fall, according to farmers.
