MRF in talks with stakeholders in supply chain to ensure market stability, self-sufficiency

Workers packaging sacks of rice at a warehouse in Yangon. Photo : Thin Zar Hlaing
Workers packaging sacks of rice at a warehouse in Yangon. Photo : Thin Zar Hlaing

The Myanmar Rice Federation (MRF) is prioritizing domestic market stability and self-sufficiency and working towards these goals by coordinating with government departments and stakeholders in the supply chain, including exporters, traders, depot owners, and millers, according to a press statement issued by the federation.
The MRF is monitoring the impact of COVID-19 in the foreign and domestic market, and working with stakeholders in the respective regions and states to govern the market. The federation will call on the government to take systematic measures on exports by involving exporters.
Due to a volatile dollar exchange rate in the local forex market, exporters have halted rice purchase, causing a slight slump in the domestic market.
“At present, some people are panic-buying food and consumer goods in preparation for the possible negative impact of the COVID-19 pandemic. Therefore, some are worrying over a possible price hike in the domestic market in wake of the coronavirus,” said a market observer.
The government, as well as some associations, have rice reserve schemes. At present, millers and companies are distributing rice at a fair price, according to the MRF. Therefore, people need not be concerned, it stated. The MRF, the Myanmar Rice and Paddy Traders Association, Myanmar Rice Millers Association, and Bayintnaung, Wadan, Mandalay and Shwebo commodity depots can be contacted for market-related problems, according to the statement issued by the federation. —GNLM (Translated by Ei Myat Mon)

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