The inflows of rice into Bayintnaung market has slightly declined by 40 per cent as merchants are buying rice at reduced prices to reduce rising rice prices.

Than Oo, Secretary of Bayintnaung Rice Brokerage Center said: “The price of a bag of rice has dropped by Ks2,000 as from October 1. In the past, there were daily arrivals of around 50,000 bags of rice at Bayintnaung Rice Brokerage Center. Now, it has dropped to around 30,000 bags of rice, a 40-per-cent decline.

“On Monday, we will reduce rice prices again if there is an increase in the rice supply,” he added.

Currently, the price of a bag of 25-mark Eamahta rice is Ks22,000 while the price of a bag of 5-mark rice is sold for Ks23,300.

Last five years, the price of a bag of Pawsan rice increased by up to Ks 7,000. But the Pawsan rice price has reached a record high of Ks18,000 between 2017 and 2018, according to a discussion between rice merchants, brokers and retailers.

The price of a bag of Shwebo Pawsan rice reached Ks 46,000 in January, Ks56,000 in May and Ks62,000 in September. The price of a bag of 25-mark Eamahta rice hit Ks 19,000 in January, Ks19,800 in May and Ks22,500 in September. The price of a bag of 25-mark Ngasein rice amounted to Ks 19,300 in January, Ks20,700 in May and Ks22,000 in September.