Ayeya Pawsan paddy price inches higher to K1.4 million per 100 baskets

The prices of Ayeya Pawsan paddy edged up to K1.4 million per 100 baskets (46 pounds), according to Ayeya Trade Centre.
On 1 August, Ayeya Pawsan paddy price was only K1,264,000 per 100 baskets. The price jumped up to K1.384 million per 100 baskets this week ended 21 August.
Therefore, the figure shows an increase of K120,000 per 46 pounds within three weeks.
Similarly, low-grade Emahta paddy varieties produced from Ayeyawady Region also rose to over K900,000 per 46 pounds on 20 August.
Low inventory, strong demand from millers and traders in Yangon and other domestic markets and strong demand on rice for exports elevated the paddy price.
Following higher paddy prices, rice prices have also gained accordingly. On 20 August, Pawsan rice prices reached the minimum of K58,000 per bag and the maximum of K90,000 per bag. Fast matured rice price (90 days) fetched K44,000 per bag. Meanwhile, the prices of low-grade rice varieties (Emahta, Ngasein and Meedon) moved in the range of K38,000-K50,000.
Starting from 3 August, the Myanmar Rice Federation, the Myanmar Rice Producers and Planters Association, the Myanmar Rice Millers’ Association, and traders and brokers engaged in Wadan Rice Wholesale Centre and Bayintnaung Rice Wholesale Centre have been working together to offer fair prices of Shwebo Pawsan and other rice varieties to the consumers at the Wadan Wholesale Centre in the working days between 9 am and 3:30 pm.
The offer prices are K75,000-K77,000 per bag of Shwebo Pawsan, K52,000-K55,000 per bag of Ayeyawady Pawsan, K55,000-K60,000 per bag of Kyapyan, and K35,000-K37,000 per bag of first-matured rice varieties (90 days) at the Wadan Rice Wholesale Centre.
Sales volume is limited to one bag per household. Those traders and retailers are not entitled to buy them.—NN/GNLM