Prices of Pawsan rice, paddy dip

On 2 January 2023, the prices of high-grade Shwebo Pawsan paddy and rice declined slightly after an upward trajectory in prices, as per the Shwebo Paddy Producers Association.
On 2 January, the paddy prices of old Pawsan from the Shwebo area were K2.5-2.6 million per 100-baskets. The figures indicated a decrease of K30,000 per 100-baskets compared to that of mid-December.
The price of the new Shwebo Pawsan paddy is lower than the old one. In mid-December 2022, new paddy prices stood at K1.55-K1.7 million per 100 baskets. On 2 January 2023, the prices dipped to K1.48-K1.6 million per 100-baskets.
Similarly, the prices of high-grade Pawsan rice slipped. The prices of old Pawsan rice fell to K86,000-K92,000 on 2 January 2023 from K85,000-K94,000 per bag in mid-December, whereas the prices of new ones dropped to K60,000-K66,000 per bag.
Although the prevailing market price in early 2023 is lower than that of December 2022, it is K10,000-K20,000 per bag compared to the prices of early 2022.
This year, there is transparency in wholesale market prices and plantation acres of Pawsan paddy in the Shwebo district.
There are 333,942 sowing acres of Pawsan paddy in the Shwebo District in the 2022-2023 FY. The output of paddy is estimated at 20 million baskets if one acre can produce 70 baskets. Approximately 4 million bags are likely to be produced.
Moreover, Pawsan rice is supplied by other regions as well. As they are not included in export items, there is less chance to hit fresh peaks this year like that in mid-2022.
Thus, traders in possession of stocks are able to gain lower profits than in 2022. — TWA/EMM