The price of broken rice has declined, according to the Wadan Rice Wholesale Centre.
The price of broken rice was K45,000 per 108-pound bag on 30 September. The price dropped to K38,000 per bag on 7 October, reflecting a significant decrease of K7,000 per bag within 15 days.
Additionally, the prices of rice also move down in the domestic markets. The prices of high-Pawsan rice varieties decreased from K93,000 per bag on 30 September to K90,000 per bag on 7 October.
Fluctuation of the exchange rate is positively related to the prices of rice and broken rice. At present, the market is quite slow-moving. Additionally, the supply of new rice is seen in the market.
Therefore, Myanmar Rice Federation, Myanmar Rice and Paddy Traders Association, Myanmar Rice Millers Association, and traders involved in rice wholesale centres (Wadan and Bayintnaung) have offered rice at a cheaper rate from 3 August every day between 9 am and 3:30 pm except for office holidays.
Ayeyawady Pawsan, Shwebo Pawsan, Pawkywe and short-mature rice varieties (90 days) will be sold at a cheaper price between K35,000 and K77,000 per bag.
Each household is entitled to buy one rice bag only and those resellers, traders and retailers are excluded from this scheme. —NN/GNLM