Low and high grades of paddy fetch skyrocketing prices

Prices of low and high grades of monsoon paddy are on the rapid rise in deltaic region of Myanmar on 29 January 2023, according to the daily paddy price information released a rice mill in Wakema Township.
On that day, Thukha monsoon paddy was traded at K1.5 million per 100 50-lb bag, Hnankar K1.4 million and Pawsan some K1.75 million per 100 52-lb bag.
On 17 January, Pawsan was priced at K1.65 million per 100 baskets and Thukha K13.5 million.
Pawsan produced by the deltaic region fetched K1.65 million per 100 baskets compared to K1.9 million to K2.2 million per 100 baskets of Shwebo Pawsan on 18 January 2023.
The domestic market saw high prices of paddy. On 25 October 2022, low-grade Thukha secured K1.3 million per 100 baskets from the deltaic region, K1.34 million on 21 November, K1.31 million on 24 December 2022, K1.35 million on 17 January 2023 and K1.5 million on 29 January 2023.
In November 2022, deltaic Pawsan paddy fetched K1.6 million per 100 baskets, in comparison with K1.675 million in early December, K1.63 million at the end of December 2022, K1.65 million on 17 January 2023 and K1.75 million on 29 January 2023.
During the three-month period of this new paddy season, deltaic Pawsan was risen by K150,000 and some K200,000 for low-grade Thukha paddy.
On 2 January 2023, Shwebo Pawsan pocketed K1.6 million per 100 baskets but K2.2 million on 18 January, according to the press release of paddy prices in Shwebo.
Old Shwebo Pawsan fetched K2.7 million per 100 baskets in Shwebo on 18 December 2022. Prices of high grade rice have been skyrocketing in Yangon rice market since mid-January 2023.
In Yangon market in mid-January 2022, new Shwebo Pawsan rice bagged K43,000 per bag and new Myaungmya/Pathein Pawsan rice some K45,000.
But, Yangon rice market recorded K84,000 per bag of new Shwebo Pawsan rice and new Myaungmya/Pathein Pawsan rice K67,000 in mid-January 2023.
Price of monsoon low-grade paddy in 2021 fetched K600,000 per 100 baskets but summer paddy secured K800,000 per 100 baskets.
In 2022 when monsoon paddy was harvested, 100 baskets of low-grade monsoon paddy was traded at K1.3 million, but it increased to K1.5 million after three months period.
Summer paddy will flow into the market in around March or April this year, so prices of low-grade paddy may not rise more, said a rice merchant.
It was reported that this month, the late-grown low-grade paddy are being harvested. Sown acreage of summer paddy is lesser than that of monsoon paddy but the former meets the market demand. Some two million acres of summer paddy have higher yield of paddy per acre than monsoon paddy.
An acre of paddy can yield some 100 baskets. So, it may reach some 200 million baskets of paddy. Data on yield of crops spreading among the domestic markets are predicted by merchants and warehouse owners.—TWA/TTA