Myanmar Rice Federation (MRF) has made an announcement on July 28 that arrangements will be made to sell reserve rice for the stability of rice price.

Rice collected from export companies and other reserve rice collected by various arrangements will be sold in the market as quick as possible for the stability of rice price, it said.

As for the initial stage, 50 kilos of 50,000 rice bags which have been 25 percent single polished and sorted will be sold and if needed, arrangements will be made to sell more, it reported.

For the stability of rice prices, to have quality and to get reasonable prices for the customers, MRF will arrange necessary measures from the private sector. In the meantime, it will continue organize for the registration for warehouses, and checking warehouses, it said.

Myanmar has sufficient rice for domestic consumption and only surplus has been selling to international market. At present, there is enough rice for the local consumption. Besides, rice mills got more electricity and as a result, more rice can be produced. In addition, it is harvesting time in west Bago Region and central Myanmar and so rice prices must be stable, it reported.

MRF also requested public that collecting of rice for the anxiety and panic caused by false news and rumors must be avoided and to buy rice only if it is required.