MRF releases reasonable market price of rice for January, price set to rise against last month

la 9 1024x577 1

Actual market price of rice is way higher than the reasonable price for January.
The reasonable market price for January 2024, as determined by the Myanmar Rice Federation (MRF), has increased compared to that of December 2023.
The reasonable market prices set for January are K70,000-K72,000 per 108-pound sack of Aemahta rice (25 per cent broken), K72,000-K75,000 for Aemahta rice (15 percent broken), K75,000-K78,000 for Aemahta (10-5 per cent broken), K80,000-K85,000 for 90-day short matured rice, Pakan, Anyarthar, special Aemahta rice varieties (5-10 percent  broken), K95,000-K100,000 for Ayarmin, Ayeya Padaytha, Ayarmin (5-10 per cent broken) , K100,000-110,000 for Ayeyawady Pawsan rice and K90,000-K100,0000 for non-premium Shwebo Pawsan, K110,000-K115,000 for Ayeyawady Kyarpyan (5-10 per cent broken) and K125,000-K135,000 for Shwebo Pawsan (5-10 per cent broken).
These figures indicate a significant increase of K5,000-K40,000 per sack compared to that of December. However, in the Yangon market on 15 January 2024, rice was reportedly transacted at a higher price than the set reasonable market prices, according to a rice trader interviewed by the Global New Light of Myanmar.
With the actual market value rising in the Yangon market, the concerned institution raised the set prices higher for January, as per the MRF’s statement. The new Pawsan rice price in the domestic market was K30,000 per sack higher than the set rate in December. Similarly, rice prices stood at K80,000-90,000 per sack of low-grade rice, K114,000-120,000 per sack of new Pawsan rice, K125,000 per sack of Ayeyawady Kyarpyan, and K150,000 per sack of new Shwebo Pawsan rice in mid-January. The old premium Shwebo Pawsan fetched up to K170,000 per sack in the market, while the old Ayeyawady Pawsan was sold at K150,000 per sack, as reported by Ko Lin Wai to the GNLM.
The federation determines reasonable market prices by considering factors such as fair profit for farmers, millers, and distributors, reasonable prices for consumers, last year’s market price, global market prices, and other commodities prices. Consequently, MRF encourages affiliated associations, members of commodity depots, exporters, and rice companies to adhere to these prices.
However, there is a five to ten per cent price difference between the retail and wholesale markets and a 10-20 per cent difference for modern trade with consumer packaging at mini-marts, according to the MRF. These reasonable market prices only influence the new monsoon paddy produced this year, MRF states. To facilitate smooth trade, MRF urges buyers to contact MRF and the relevant wholesale centers. The federation notified on 21 September the paddy reference price for the 2023 monsoon paddy and called for its affiliated companies, millers, and traders to buy the paddy at the reasonable market price during the monsoon paddy harvest season. — NN/TWA/EM

Share this post
Hot News
Hot News