MRF plans to bring remaining rice and paddy stocks to the market; in attempt to stabilize price

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Workers carrying the bags of rice in Yangon. Photo: GNLM

This year’s rice and paddy stocs are higher  than last year’s, but some traders were found not to sell them to the market, therefore Myanmar Rice Federation has been working on bringing the remaining stocks to the market, said MRF chairman U Ye Min Aung.

“Both paddy and rice stocks are relatively large this year, in comparison with last year. But the price is going high now, so even farmers don’t sell too much. Traders have also been keeping the remaining stock of rice and paddy. We have several plans to take the remaining stock of rice and paddy from traders to the market,” he said.

About 300 storage facilities were registered between 4 November and  the end of January and U Ye Min Aung said that MSF has encouraged traders to engage in storage facilities registration process, so that it can assess more thoroughly on how much the stock of rice and paddy is left and about how much the goods is available, how much the goods is sold and how much the goods is left.

“As from 4 November to the end of January, there are about 300 warehouses that completed registration. It is a project for registration of warehouses in nearly all regions and states. This amount is too big. So we will continue encouraging the rest warehouses to do registration, if so we can make thoroughly check how much the stock of rice and paddy remains in the local market,” he said.

In order to control the surging rice price, MRF will manage to export broken rice and parboiled rice as a priority and 5 per cent broken rice only on a limited basis if it is white rice, and will seek approval from the ministry to initiate this plan in February and March.

MT/ZS

 

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