Price gap narrows between new Pawsan paddy and low-grade paddy

The price gap between the new Pawsan paddy and low-grade paddy has narrowed. The monsoon paddy harvested is being transacted in the market.
The new low-grade paddy price is priced at K1.3 million per 100 baskets, while the new Pawsan Yin paddy is valued at K1.35 million per 100 baskets (52 pounds per basket), Taungpyan paddy variety, at K1.4 million and the Kyapyan variety, at K1.45 million, according to the rice price of delta regions.
At present, the price of new low-grade paddy is around K1.3 million per 100 baskets, according to the Wakema Kyungone area. The paddy for parboiled rice was priced at K1.2 million per 100 baskets with moisture and K1.3 million for dried one, as per the rice market in the Kyaiklat area.
On 27 October 2022, the price of new low-grad rice was approximately K40,000 per bag while the broken rice of old rice cultivated under the intercropping system was K44,000 per bag. The price of old short-matured rice (90 days) was K47,000 per bag and old Pawsan rice varieties from delta regions fetched around K60,000 per bag. The price of old Pawsan paddy was about K1.8 million per 100-basket when it is calculated with the prevailing market price of Pawsan rice (K65,000).
Earlier, the State set 46 pounds for a basket of paddy. This year, traders set 50-52 pounds per basket of paddy. The paddy husk in a basket of paddy (46 pounds) is estimated at 12 pounds and about 34 pounds of rice and its products are produced per basket. For 100 baskets of paddy, about 28 rice and broken rice bags (3,000 pounds) and rice bran are produced.
If it calculated with 52 baskets, 30 rice and broken rice bags were produced.
There is a price difference of K20,000 per bag between the old low-grad rice and old high-grade rice. It showed a gap of K400,000 per 100 baskets of old paddy.
These days, there is only a K100,000 per 100 basket gap between the new low-grade paddy and high-grade paddy.
The yield of low-grade paddy is the highest and those rice millers and traders are buying them in the competitive market. The majority of the farmers executing many farmlands are still observing the market prices.
In 2021, the price gap between the new low-grade paddy and Pawsan paddy was over K200,000 per 100-baskets. These days, the price gap has significantly narrowed. This way, the price gap between the new low-grade rice and Pawan rice is expected to be around K5,000 per bag, U Tin, a rice dealer, told the Global New Light of Myanmar (GNLM).
The price of new paddy is around K400,000 higher than that of the previous year. When those traders who keep the stocks in their hands will sell them, the price is likely to increase. It could pose a burden of high food costs for the consumers, a market observer pointed out.
The prices of both new paddy varieties were above K1 million so the farmers do a roaring business despite the high agricultural input cost. Nonetheless, it sparked concerns among consumers over the possible price increase. — TWA/GNLM