Myanmar Rice Federation (MRF) will sell off a total of 50,000 bags of reserved rice to stabilize the rice prices in the market, according to MRF Chair U Ye Min Aung.
The reserved rice with the cooperation of rice export companies and under other plans will be sold in the market as quickly as possible ensuring the price stability.
The federation will sell 50-kilogramme 50,000 bags of rice (25 per cent – single polished and sorted) initially and the number of rice bags will be increased if necessary.
“We will sell 50,000 bags of reserved rice of the federation. We will do more depending on the situation. We will make sales via the wholesale centres and retail shops. Then, we will also sell for the factory workers of industrial zones.
”We will make the sale at the reasonable prices lower than the market prices. Yangon is our first priority. The products go across the nation including Rakhine via the Yangon wholesale centre and so we will sell at the wholesale centres of Yangon. There are many factory workers in Yangon and it is a basic need of them,” he said.
The MRF released statement saying there is enough rice for domestic consumption and the surplus rice is exported systematically. Therefore, there is no need to worry about rice due to the disinformation and rumours that spark panic buying and the consumers should buy the rice if necessary.
Currently, the rice demand is high in the market and price is also on the rice for transportation charges. The rice priced at only K40,000 per bag is now K100,000 and the price stood at K60,000 per bag becomes K150,000. — ASH/KTZH