MRF urges traders to avoid rice price hikes amid export policy changes

Myanmar Rice Federation (MRF) called for setting fairer prices and avoiding price hikes to the traders by taking advantage of the export earning policy changes, as per the notification on 8 December 2023.
The government eased export earning rules to benefit the exporters. This action aims to facilitate exports and trade.
MRF has notified the reference prices of various monsoon paddy varieties produced in 2023 and asked the members, rice millers, traders, and companies to adhere strictly to the notification. The federation issues fair rice prices based on the reference prices every month. This effort is to lessen the public burden on food costs.
The Ministry of Commerce stated that starting from 4 November, wholesalers must be registered for rice storage in domestic markets on the digital registration service (MyRO).
MRF has been making efforts through public-private partnerships to have a systematic registration for rice storage, fair market and price stability, and steer the market with investigation against those unscrupulous traders who attempt to manipulate the market by raising the price.
At present, rice is not self-sufficient in the domestic market during the harvest season of monsoon paddy. That is why MRF has urged consumers not to panic-buy.
Furthermore, the federation is hopeful that the difficulty in buying fuel oil these days will be tackled soon. Thus, the federation is discussing with stakeholders about offering adequate fuel oil (diesel) for agricultural machinery and cement at fair prices for the summer paddy season, MRF stated. — NN/EM