Broken rice prices fall again

The prices of broken rice are moving downwards in the domestic market, according to the Wadan Rice Wholesale Centre.
The price of broken rice reached the maximum of K35,000 per 108-pound bag between 11 and 15 July. The price slid to K28,000 per bag on 18 July, reflecting a significant drop of K7,000 per bag within three days.
Despite the price slump in broken rice, the price of rice is stable with the slow-moving market, the Wadan Rice Wholesale Centre reported.
The current prices of rice move in the range between K31,200 and K55,000 per bag depending on the variety.
Myanmar has shipped over 550,000 tonnes of rice and broken rice to foreign markets in Q1 (April-June) of the current financial year 2022-2023, with over 510,000 tonnes via seaborne trade and over 33,000 tonnes via cross-border trade.
Myanmar exported rice to around 20 foreign markets, mostly to the Philippines (65,990 MT) and China (54,635 MT).
Additionally, Myanmar primarily conveyed 66,853 MT of broken rice to Belgium, over 66,846 MT to China and 27,500 MT to Spain.
Myanmar also generated an income of US$700 million from export of two million tonnes of rice to foreign countries in the past 2020-2021 financial year. — NN/GNLM