Ayeya Pawsan paddy price breaks above K1.4 million per 100-basket

The prices of Ayeya Pawsan paddy soared to over K1.4 million per 100-basket (46 pounds), according to Ayeya Trade Centre.
On 1 August, the price of high-grade Ayeya Pawsan paddy was only K1,264,000 per 100-basket. The price jumped up to K1,420,000 million per 100-basket this week ended 25 August, indicating an increase of K150,000 per 100-basket in 25 days.
Similarly, the prices of low-grade paddy prices (Emahta variety) were under K900,000 per 100-basket on 1 August. The prices rose over K1 million on 25 August. Low inventory and strong demand from millers and traders in Yangon and other domestic markets elevated the paddy price are contributing factors to the paddy price rise.
Following higher paddy prices, rice prices have also gained accordingly. On 25 August, Pawsan rice prices reached the lowest of K63,000 per bag and the highest of K91,000 per bag. Short matured rice price (90 days) fetched K48,000 per bag. Meanwhile, the prices of low-grade rice varieties (Emahta, Ngasein and Meedon) moved in the range of K36,000-51,000 per bag.
Starting from 3 August, Myanmar Rice Federation, Myanmar Rice Producers and Planters Association, Myanmar Rice Millers Association, and traders and brokers engaged in Wahdan Rice Wholesale Centre and Bayintnaung Rice Wholesale Centre have been working together to offer fair prices for Shwebo Pawsan and other rice varieties to the consumers at the Wadan Wholesale Centre in the working days between 9 a.m. and 3:30 p.m.
The offer prices are K75,000-77,000 per bag of Shwebo Pawsan, K52,000-55,000 per bag of Ayeyawady Pawsan, K55,000-60,000 per bag of Kyapyan, and K35,000-37,000 per bag of short-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