Farmers expecting monsoon paddy to fetch Ks600,000 per 100 baskets

A woman piling  grains at a rice depot.  Photo: supplied
A woman piling grains at a rice depot.  Photo: supplied

Farmers are expecting the monsoon paddy to fetch Ks600,000 per 100 baskets on account of their good quality and the high yield in the Mandalay Region.
“The monsoon paddy is freshly produced. Some farms are still harvesting the paddy. Although the government set the floor price at Ks500,000 per 100 baskets, it is likely to fetch some Ks600,000,” said U Thein, a farmer from Patheingyi Township.
The local paddy varieties — Shwethweyin, Meetauk and Palethwe — are mainly cultivated in Patheingyi Township. All the paddy varieties except long-term paddy will be harvested in the Mandalay Region in the second week of June.
Currently, Chinese merchants are offering lower-than-actual market price for Myanmar’s rice. Also, with the various regions and states set to produce more rice, high prices are uncertain, said U Kyaw Kyaw Naing, chair of Mandalay region rice commodity depot.
The Ayeyawady Region has already produced monsoon paddy, but it sells for some Ks500,000 per 100 baskets in the market. The demand for the paddy is low, and the export volume is dropping due to the lower price. Therefore, paddy is not expected to fetch a high price, said U Kyaw Kyaw Naing.
During the pre-Thingyan period, a 50-kilogram bag was worth some Ks25,000, which decreased slightly to Ks24,000 after the Thingyan Festival. The rice price is Ks23,000 per bag in the fourth week of May. The price is likely to be on the lower side, with fresh rice entering the market, said the rice merchants.—Min Htet Aung (Mandalay sub-printing house)

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