Operators of rice markets said that in the past month, the cost of Porsan, a smooth rice variety that is extensively consumed in the nation, has increased by more than 20% per bag.
A 108-pound bag of Shwe Bo Porsan, a sort of fine rice, cost 65,000 kyats in the Yangon rice market last month, but it now costs 85,000 kyats. As a result, the price of a Santa bag has increased by 20,000 kyats, or more than 20%.
The cost of Santa’s bag has grown by 14,000 kyats, or more than 20%, according to the operators of the rice fair, while Irrawaddy Porsan was 50,000 kyats last month and is now 64,000 kyats.
The terrorist military council and the local defense forces are engaged in virtually daily combat in the Shwebo region of Sagaing following the military coup in Myanmar.
Shwebo rice is the primary producer in the Sagaing region, hence rice farmers there are forced to stop their farming operations and leave.
According to a businessperson connected to the Myanmar Rice Traders Association, “Every price this season is rising right now. The expense of transportation also rises. Additionally, inputs rose. Demand and supply are the primary issues. We’ve heard that Sanchou is still self-sufficient as far as we know. Shwe Bo Porsan, however, can lessen it. Farmers were unable to plant as before since the area was not quiet. so that the balance may be decreased. Irrawaddy Porsan is trouble-free. There’s still some here “He informed DVB.
The Myanmar Rice Federation announced that it is working with rice dealers to stabilize the price of rice in response to the abrupt increase in the price of refined rice in the Yangon rice market.
A senior member of the organization added, “In order to offer low-cost direct sales to customers at the commodity depots, we intend to work with the Myanmar Rice Federation and the Rice Traders Association. Irrawaddy porsan and Shwebo porsan are two of the porsans that will be marketed. 90 days of coarse rice, too. I’ll market these 3 varieties. The cost we charge for the product will be a little less than the depot pricing. Additionally, we must purchase back and sell, so we can’t bear much “He informed DVB.
In Myanmar, 17.3 million acres of rice were planted in total in 2019–2020, and 17 million acres were planted in total in 2020–21.
Additionally, he stated that he intends to invest 400 billion kyats to develop corn and oilseed crops on a national scale using a venture farming system during the upcoming planting season, which includes spring rice, beans, and other crops.