Rice prices in Wadan rice wholesale increase

Zeya Nyein

Wadan rice wholesale market which mainly sells rice for the domestic use is now selling with Ks.2000 to Ks.3000 increase per bag according to a meeting held between rice merchants, rice dealers and rice retail shop owners held on August 23 in Wadan rice wholesale market.

“Only one day in a week, rice entered into the wholesale market. In other days, they increased rice prices Ks.2000 to Ks.3000 increase per bag. We need to meet with respective regional authority for normal flow of rice in the market. We also need to discuss with officials from marine department,” said Aung Than Oo, chairman of Myanmar Rice Merchant Association.

Increase in rice price, which is the main staple food for Myanmar people, is a threat for Myanmar in the long term and it may also affect local rice market. Wholesale market officials also warned rice dealers and rice merchants not to increase in rice prices than the normal amount.

“Last Monday(13-8-2018), we found out that the price of rice per bag has increased Ks.2000 to Ks.2500 per bag. This Monday (20-8-2018), Ks.2500 has increased. It showed that it is not normal. Someone is speculating the rice market. We warned them to avoid these practices,” said Aung Than Oo.

The current price of rice per bag is as follows. Pawsan rice is about Ks.54, 000, Pawkywe is Ks.42, 000 to Ks.45,000 and Shwebo Pawsan rice is Ks.64,000 according to the Wadan rice wholesale market.

In 2017, there were less differences in the prices of Pawsan rice but this year, the price of Pawsan rice has increased than previous year and the price of Shwebo Pawsan rice is remarkably high compared with other kinds of rice.

It is also suggested that consumers should choose the rice when consuming such as Pawsan and Pawkywe which is Ks.10, 000 less than the Shwebo Pawsan rice. The rice which is called 90-days- should also be chosen for consuming.