Myanmar has sufficient rice supply with 800,000 bags in reserve and they are ready for public sale if needed, said Myanmar Rice Federation (MRF) Chairman U Ye Min Aung at a press conference held at UMFCCI on November 27.

"The government has also made a policy. If the price of domestic rice rises, the first priority is to stabilize it. What is difficult for us to control are those who manipulate the rice market. There are many people who are manipulating the rice market. The price of rice is unstable because of them. That's why we all know that there have been investigations and actions in the past," Chairman U Ye Min Aung said.

It is reported that if the domestic rice price rises, the government will prioritize the stabilization of the domestic market rather than export. In addition, the export-based rice reserve system was implemented from November 2023.

The export-based rice reserve system was carried out with the participation of rice exporters. There are 800,000 bags of rice under the arrangement. If there is a need, we are selling rice to social associations, charitable associations, factories, workshops, employees, etc.