Low-grade paddy price increases slightly

The prices of low-grade summer paddy moved up this year.
Paddy prices stood at K1.55 million per 100-baskets of short-mature paddy (90 days), and K1.45 million for paddy grown under the intercropping system in recent days. The price soared to K1.6 million per 100-baskets of short-mature paddy (90 days) in the Wakema area. Along with summer paddy, the prices of other paddy varieties moved slightly up to K1.52-1.92 million per 100 baskets on 17 March. The figures showed an increase of K20,000-100,000 per 100-baskets depending on the varieties.
Summer paddy is soon to be harvested abundantly. The growers are closely observing the offering prices of the millers and traders for now.
The rice prices vary depending on the qualities. Low-grade rice was worth around K55,000 per bag, while broken rice fetched K40,000 per bag and the price of high-grade rice touched a high of K70,000 per bag. The low-income consumers save food costs by reducing the quality of the rice instead of the one that they were supposed to purchase.
The low-income family are concerned about the possible price rise in the coming months.
Rice varieties that were shipped to foreign markets are not consumed locally. Old monsoon rice, including the Pawsan variety, is still found in Yangon markets.
The Global New Light of Myanmar quoted a housewife as saying, “the authorities concerned need to govern the rice market to avoid spiralling inflation. The consumers are expecting a win-win situation for clients and suppliers. — TWA/EM