Myanmar Rice Federation (MRF) will initially start to sell off the reserved rice (Emahta variety) at less than K60,000 per bag.
The federation held a coordination meeting on 2 August at the Mingala Hall of the Union of Myanmar Federation of Chambers of Commerce and Industry to sell the reserved rice at fairer price.
The meeting highlighted the subsidy scheme that is set to sell-off the reserved rice to the low-income workers engaged in the industrial park and the related departments and to the blue-collar workers through the municipal shops and rice wholesale centres. The federation declared to sell the Emahta rice variety (well milled, 25 per cent broken, polished and sorted) at the rate lower than K60,000 per bag in the initial stage.
The rice reserved under the cooperation of exporting companies and other schemes will be sold off in the market as soon as possible to control the rocketing price, according to the MRF’s notification on 28 July.
Approximately 50,000 50-kilogramme rice bags (25 per cent broken single polished and sorted) will be initially put for sale. More rice volume will be added in the scheme when necessary.
Under the guidance of the Ministry of Commerce, MRF has been making efforts and participating in the development of the rice market, systematic registration for rice storage, fair market and price stability by leading the role of the private sector.
Myanmar has achieved self-sufficiency in rice and only the rice surplus is exported systematically. At present, rice crops are being harvested in western Bago Region and central Myanmar Region. With the electricity supply improving, rice mills could run operations fully. Therefore, the production meets the consumption for sure. Nevertheless, those unscrupulous are spreading malicious rumours and fake news to trigger consumers’ concerns and spark panic buying. The federation hereby requested the consumers to stop panic buying and buy the rice when one needs.
The rice prices are moving onwards and the price of high-grade Pawsan rice from the Shwebo area surged to K130,000 per bag, according to Myanmar Rice Wholesale Centre (Wahdan).
Similarly, the prices of other rice varieties were also rising. The prices of old Pawsan rice touched K100,000 per bag of special Kyarpyan, a high of K96,000-97,000 per bag depending on producing areas (Myaungmya, Pathein, Pyapon and other regions), while rice prices stood at K86,000 per bag of Kunni, K65,000 for Ngasein, K86,000 for Pawkywe, K66,000 for rice grown under intercropping system and K96,000 for new Pawsan rice variety, as per the price data released by Myanmar Rice Wholesale Centre (Wahdan).
Myanmar Rice Federation will endeavour to stabilize the rice price and steer the market for the right price and the right product. The MRF will join hands with the rice millers, rice traders and companies. The federation called on them to balance the short-term and long-term benefits in trading, as per the MRF’s notification dated 24 April.
Individuals and family entities can contact the rice wholesale centres for fair price and right product. For any difficulties, please contact the office of the MRF, as per the statement.
Myanmar Rice Federation notified on 24 April that tips-off about those manipulators who spread malicious rumours on digital platforms in order to spark concerns of the consumers and raise the rice prices can be done for the sake of long-term benefit of the rice industry. The federation will forward the reports of those manipulators to the relevant authorities if they refuse to be persuaded. Those stakeholders in the supply chain need to exert concerted efforts in this as well. — NN/EM
