MRF releases reasonable market price of rice for December

Myanmar Rice Federation (MRF) announced on 10 December the fair market price of rice for December.
The reasonable market prices set for December are K60,000-K62,000 per 108-pound sack of Aemahta rice (25 per cent broken), K62,000-K64,000 for Aemahta rice (15 per cent broken), K64,000-K68,000 for Aemahta (10-5 per cent broken), K68,000-K72,000 for 90-day short mature rice, Pakan, Anyatha and special Aemahta rice varieties (10-5 per cent broken), K90,000-K95,000 for Ayeyamin, Ayeya Padaytha and special Aemahta rice varieties (15 per cent broken) and K75,000-K80,000 for Ayamin and Ayeya Padaytha, K80,000-K90,000 for Ayeyawady Pawsan rice and K90,000-95,0000 for non-premium Shwebo Pawsan.
The federation determined reasonable market prices by considering the following factors: fair profit for the farmers, millers and distributors, affordable prices for consumers, last year’s market price, global market prices and other commodities prices.
Consequently, MRF encouraged the affiliated associations, members of commodity depots, exporters and rice companies to follow the price.
Nonetheless, according to the MRF, the price difference is five to ten per cent between the retail and wholesale market and 10-20 per cent for modern trade with consumer packaging at mini-marts. MRF stated that those reasonable market prices only influence the new monsoon paddy produced this year.
MRF urged the buyers to contact the MRF and the relevant wholesale centres to have a smooth trade.
The federation notified on 21 September paddy reference price for 2023 monsoon paddy and called for its affiliated companies, millers and traders to buy it reasonably during the monsoon paddy harvest season. — NN/EM