With the increase in prices of rough rice and good-quality rice in the past three months in the Yangon rice market, the price of Paw Kyawe rice reached a record high, said Ko Win Naing, a rice trader from the Bayinnaung rice wholesale market.
The price of Paw Kyawe rice reached Ks40,000 per bag in July, up from Ks 30,000 per bag. In the rice market, the price of monsoon and summer rough rice was unstable between the end of April and July. The price of rough rice saw a difference of 1,500 to 2,000 per bag during those three months. The price fluctuation of rough rice is Ks 21,000-21,500 and Ks 23,000 – 23,500.
The price of monsoon rough rice, which is mostly cultivated, was some Ks 25,000 per bag after the water festival. But the price of monsoon rough rice has increased to Ks27,000 per bag, as of the end of July.
There are about 17.9 million acres of paddy farms crossing the country, including some 1.3 million acres of Paw San paddy farming in Myanmar.
Summer paddy farming only represents about 20 per cent of monsoon paddy farming. The difference in prices between Paw San Yin and old Paw San was Ks 8,000-10,000 per bag during the first week of December. Paw San Yin rice entered into the rice market beginning in the first week of December.
The price of Shwebo Paw San has increased to Ks 57,000-58,000 per bag in July, from Ks 52,000 and 53,000 per bag after the water festival. The price of Myaungmya paw san and Dedaye paw san Kyar Pyan has also increased to Ks 47,000 from Ks 42,000 per bag.
The price of Pharbon Paw San San has also increased to Ks 44,000 per bag from Ks38,000 per bag at the end of July. The Monsoon rough rice harvest is held at the end of September. The storage of monsoon rough rice has two months to sell in the market.
The sale of exported rice through the Muse border earns more profits than via sea routes. But currently, the sale of export rice is normal. As of the end of July, the price of rough rice has declined slightly, while the price of good-quality rice has shown a small increase in the local market.
In the three months after the water festival, the price of rough rice has fluctuated, while the price of Paw Kyawe and Paw San San rice has increased. The price of Paw Kyawe has increased to some Ks 10,000, while the price of Paw San San has increased to about Ks 5,000, and the price of rough rice increased to Ks 2,000 per bag.
Maung Say Aung