Rice prices may increase in domestic market

19.06.2018

Rice prices may see increase in the domestic market as rice reaped in the summer had almost run out, according to sources from the Bayintnaung wholesale center.

“At the present, rice reaped during the summer is almost gone and we have to start selling rice stored in the warehouse. Rice price may increase a little as demand is increased,” said Than Oo, secretary of the wholesale center.

Domestic rice prices are about Ks20,000 per bag for 25-mark rice, Ks21,500 per bag for 15-mark rice and Ks22,500 per bag for 5-mark rice respectively.

The price of rice export is stable as Chinese traders temporarily stopped rice import from Myanmar due to the ban of Chinese authorities on bank accounts, sources said.

“The export rice is stable now but will climb higher if the Chinese plans to import rice from Myanmar again,” he said.

Domestic rice prices are about Ks18,500 per bag for Zeera 25-mark rice and Emata 25-mark rice, Ks18,700 per bag for Ngasein rice on January 1. On January 6, the prices are about Ks Ks18,700 per bag for Zeera 25-mark rice and Emata 25-mark rice, Ks18,700 per bag for Ngasein rice.

Myanmar is exporting rice through maritime and border trade routes.

The kinds of rice being bought by China are the ones which sold mainly in the domestic market, sources said.

Money transferring services informed traders to stop international remittance services temporarily for Myanmar-China border area from June 12 as some problems are occurred in the services in China. If the transaction is returned to normal, the domestic rice prices may be increased, sources said.


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