The price of glutinous rice touched a high of K100,000 per 102-pound bag in November out of those new rice of 2022 monsoon season, Ko Kyaw Thura, a rice trader from Padauk Street at Bayintnaung Wholesale Market told the Global New Light of Myanmar (GNLM).
The rice produced in the 2021 monsoon season fetched almost K100,000 per bag in mid-2022.
On 14 November, the prices of glutinous rice stood at K100,000 per bag from the Pyapon area, and K90,000 from the Pathein and Shwebo areas. This year, the acreage of sticky paddy dropped. As a result of this, the price climbed up.
In November, the prices dropped from K84,000-90,000 per bag in the first week to K76,000 in the last week. The price has soared these days. The glutinous rice was priced only at K60,000 per bag in the year-ago period.
Normally, a rice bag is measured 108 pounds while a glutinous rice bag is 102 pounds. The price of the high-grade Pawsan variety from the Shwebo area rocketed to K100,000 per bag in mid-2022. Similarly, the price of glutinous rice hit a record high in the beginning of the monsoon paddy harvest season.
Many acres of glutinous rice were found in Laydauntkan and Darpain areas near Yangon in 2015. This year, the cultivation drastically plummeted. The inputs of glutinous rice by Pyapon, Mawgyun and Pathein areas are high, Ko Naing Tun, a rice trader from Arthawka Street, told the GNLM.
Glutinous rice is commonly and widely utilized in traditional snacks and breakfast food. Moreover, it is mostly used during the Chinese New Year Festival and other traditional events.
When the festival or event is approaching, the price is expected to go up by K5,000 per pack. A pack of glutinous rice is normally worth K3,000, said a resident from China town in downtown Yangon. The price of glutinous rice significantly inched higher to double. The food items that are made of glutinous rice will go up for sure, the consumers said.
In recent days, following the price increase of glutinous rice, the prices of paddy and rice have also moved up. Although glutinous rice is consumed less than rice, the price is rising faster. — TWA/GNLM
