Reserved rice to be sold : To control market manipulation and price hike

In order to regulate and stabilize the rice market and price, reserved rice will be sold in the market as soon as possible with the collaboration of the rice export companies, according to the Myanmar Rice Federation.

Out of the reserved rice collected by export companies, 50,000 bags of rice (25 % – single polished and sorted) will be initially sold for rice market and price stabilization, and plans are underway to launch more rice sale if necessary.

Joint General Secretary, Myanmar Rice Federation, Nay Lin said " With the aims to stabilize the price and for consumers to buy with reasonable prices, reserved rice is sold as initial. There is enough rice not only for domestic consumption, but also for export, and only the surplus amount of rice were exported after calculating domestic self-sufficiency."

In applying for export license, licenses are issued only when there is 50 % of storage stock in the depot.

The surplus of summer paddy is available for export, and there is enough Paw San Hmwe, 90-day short-matured rice and glutinous rice for domestic consumption. In order to protect against panic buying due to worry, people are advised to purchase rice when in needs

At present, Myanmar has fully self-sufficient rice for domestic consumption and surplus rice amount only are exported after proper calculation.

Currently, Myanmar Rice Federation is making efforts to stabilize the market price and for consumers to buy with equitable prices. Preparation measures are being undertaken for warehouse registration and inspections, it’s learnt.