Rice prices remain stable


Stability in the rice market. Photo: Ye Min/Mizzima

Low and high quality rice prices remain stable after gains in the post-Thingyan period, rice traders told Mizzima on May 13.

The price of local high quality rice rose 3,000 kyat for a bag of rice (51kgs), said the traders at the Wartan Rice Exchange.

"Rice prices have been rising gradually after the water festival until May but these days rice prices remain high and stable, it doesn't seem that prices will drop. Milling paddy this year produced more broken rice, according to people in rural areas," said an official at the exchange.

The price of a bag of Pawsan rice produced in Pathein, Myaingmya in te Ayeyarwaddy region was worth K36,000 on May 1, rising to K39,000 on May 13.

The price of a bag of Shwebo Pawsan rice was K40,000 in early May, but rose to K43,000 on May 13.

High quality rice in May this year are K5,000 higher than last year and may remain stable or become more expensive, rice traders commented.

"The China side is buying more low quality rice, so low quality rice is expected to rise in price as well," said U Zaw Khaing, a rice businessman.

Atmahta low quality rice was K16,000, now is K18,000. The price of low quality rice was under K15,000.

Myanmar is exporting large quantities of rice to China, largely through the Muse border crossing point.

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