Yangon market sees trading flat of high-grade Pawsan rice

Prices of high-grade Pawsan rice varieties were volatile in the Yangon market and the prices remain unchanged on the high side at the present time, said a rice trader told the Global New Light of Myanmar.
Pawsan rice from the Shwebo area peaked at K90,000 per bag in the Yangon market this month, while it was priced at K85,000 per bag in the Shwebo market. There are many Shwebo Pawsan varieties in the markets. The retail price of Shwebo Pawsan is K3,600-3,700 per pyi, while Pawsan rice varieties from delta regions ranged around K7,000 per bag.
Pawsan rice prices stood at K72,000 per bag of rice from the Myaungmya area and K70,000 per bag of rice from the Pyapon area in the retail market. The rice warehouse offers them at K65,000 and K63,000 per bag respectively.
Yangonites have purchased Pawsan rice at a high price. Therefore, the demand is likely to decline in the coming days. Three Pawsan rice varieties can be purchased at fairer prices at the Wadan Warehouse Centre starting from 3 August under the scheme of the non-governmental rice association. Sales volume is limited to one bag per household.
The prices of other Pawsan rice varieties have risen along with the hike in the price of Shwebo Pawsan.  Normally, the price of Shwebo Pawsan rice is K5,000 higher than the other two varieties’ rates. This year, when new Pawsan rice was flowing into the market in January, all the Pawsan rice varieties were sold at approximately K43,000 per bag in January. This is a rare case in the seven years, said a rice warehouse owner from Bayintnaung Commodity Market.
Newly harvested monsoon rice of low-grade will enter the market. Moreover, new Pawsan rice will be harvested in November as well. The main supplier – the delta region (nine townships) – has not experienced any flood cases. Additionally, those Pawsan rice varieties are resilient to floods for many days.
Pawsan rice prices rely on Yangon market conditions. About 300,000 bags of Shwebo Pawsan rice were supplied to the Wadan market per month, the commodity depot’s trade data indicated.
Supply exceeds demand in the Yangon market so there is a lesser possibility for the prices to continue to rise, said a rice trader. — TWA/GNLM