IGL trading company buys summer paddy for K625,000 per 100-baskets

International Green Land Trading Company is buying summer paddy (containing 14 per cent moisture), according to the Myanmar Paddy Producers Association.
Under the supervision of the Myanmar Rice Federation, International Green Land Trading Co., Ltd is purchasing the summer paddy from the Ayeyawady region and Bago region.
As a result, the prevailing price of paddy in the market touched a higher of K85,000 per 100 baskets than the floor price set by the government.
The floor price for paddy has been set at K540,000 per every 100 baskets (one basket is equivalent to about 21 kilogrammes) of monsoon paddy grown in 2021 and summer paddy cultivated in 2022, according to an announcement released by the Committee on Farmers Rights Protection and Interests Promotion on 6 October.
Under the provision of the Law of Protection of the Farmers Rights and Enhancement of their benefits, the Leading Committee for Farmers Rights, Protection and Interests Promotion has fixed the minimum price of paddy at K540,000 per 100 baskets if the paddy meets the prescribed criteria — 14-per-cent moisture content and a fixed percentage of impurities such as sand, weed, and small stones — to create fair markets for farmers.
Besides, if the market price is above the set price, the merchants have to purchase the paddy at the prevailing market price.
Farmers facing difficulties selling their produce at the basic price can contact the township agents of the Myanmar Rice Federation (MRF) and MRF office’s contact 01-2301128, 01-2301129 and 01-218266.
Currently, there is a less stockpile of monsoon paddy in the rice market and the newly harvested summer paddy are entering the market. Nearly 18 acres are put under monsoon and summer paddy in Myanmar yearly, according to the Ministry of Agriculture, Livestock and Irrigation. — NN/GNLM