Non-premium monsoon paddy varieties hit the market attracting strong demand

Non-premium monsoon paddy varieties from Bago and Ayeyawady regions are gradually flowing into the domestic market at the price of around K60,000 per bag while a bag of broken rice stands at around K48,500.
However, they are not suitable to store for a long time as they may contain some moisture, said U Kyaw, a rice merchant at the Bayintnaung Wholesale Market yesterday.
A bag of ordinary-grade monsoon rice price in 2023 is about K20,000 more than that of late 2022. In the second week of August 2022, a bag of low-grade rice produced by double-cropping was K34,000-K35,000 and the prices stood at K39,000-K43,000 per bag of 90-day ordinary-grade rice, K63,000-K65,000 per bag of Ayeyawady Pawsan rice and K80,000-K88,000 per bag of Shwebo Pawsan.
The price of a bag of non-premium rice has no potential to go under K60,000 this year, Ko Win, a rice wholesaler at the Bayintnaung Wholesale Market, told the Global New Light of Myanmar.
From August to October this year, a bag of non-premium rice produced by double-cropping was priced at K70,000, and the prices stood at K72,000 per bag of 90-day rice, K98,000-K100,000 per bag of Ayeyawady Pawsan, K125,000 per bag of Shwebo Pawsan, as stated on the daily rice price lists at the Wartan Commodity Depot.
In the first six months of the 2023-2024 financial year, as of 13 October, the total rice and broken rice exports were 535,508.11 tonnes, earning US$246.114 million according to the official figures. During these six months, the average price of one tonne of rice and broken rice was $511.6 and $406.6.
In September 2023, one tonne of rice was priced at $555 while one tonne of ordinary-grade rice earned around $600 per tonne.
In the first six months of the 2022-2023 FY, one tonne of rice and broken rice were $370.52 and $327.26 in the export market and the prices rise by about $141 per tonne for rice and $79 per tonne for broken rice this year. — TWA/TH