Rice Market: Plans underway to control rising price in retail market

In order to control the rising price of rice in retail market, Myanmar Rice Federation, its affiliates and traders associations are selling rice at affordable prices in some regions and states. Also, plans are underway to implement the rice reserve programme.

Vice Chairman, Myanmar Rice Federation, Thaung Win said "We are selling rice at affordable prices. Discussions are also underway with concerned officials and chairmen of industrial zones not to make the rice price rise in retail market. There are rice mills in respective townships. If the rice price rises due to natural disaster, we will sell the rice at certain prices to control the rice price in retail market. Before, we used to sell 1 pyi of rice at 1,000 kyats for the grass-root people. And, now at 1,500 Kyats, the rice sales have started in Bago and some townships of Ayeyawaddy Region for the grass-root people."

The Vice Chairman added that farmers want to accelerate paddy cultivation in the coming year and some already did. Rice prices usually go up in July, August and September every year.

The Government and the Myanmar Rice Federation have now been working hand in hand to offer loans to farmers and growers at a low interest rate.