There have been abnormal prices in trading rice in the domestic market with the speculative intention of increasing local rice prices, said U Ye Min Aung, Vice President of the Myanmar Rice Federation (MRF), during a press conference held on September 23.

Domestic rice prices have risen since the beginning of July, on the pretext of the rise in foreign exchange rates and the publication of 20,000-kyat notes.

"In unusual ways, we hear plans to drag up to Ks200,000 per bag of rice," he said.

"They (unscrupulous persons) also buy Ks3 million or 4 million for Shwebo Pawsan paddy, which is one of highest quality strains. Even when it's Ks4 million, there are people who enters the market and buy it for more,” U Ye Min Aung added. 

The MRF has reported that arrangements are being made to take appropriate action against marketing in the form of abnormal sales to increase domestic rice prices.