November 01

The Consumer Affairs Department under the Ministry of Commerce stated that reasonable market prices of rice for November were released and that failing to adhere to the prices is subject to legal action.

The Ministry of Commerce issued reasonable prices for all varieties; non-premium rice (Aemahta, Ngasein, Sinthukha, Ngasein Yarkyaw, Kayinma, Yadanatoe, Tunpu, GW-11, 747, Theepu, Shweman, Nankauk, etc), locally consumed rice (Zeeyar, Ngwetoe, Min Ayeya, Hmawby -2,3, 90-day short matured rice, Manaw Thukha, etc), moderate quality rice including Magyantaw and Ayeyapadetha, and premium Pawsan rice (Ayeyawady Pawsan, Shwebo Pawsan). The ministry announced that retailers are not allowed to make profits more than eight per cent of the set reasonable market prices.

The ministry determined reasonable market prices by considering the following factors: fair profit for the farmers, millers and distributors, reasonable prices for consumers, last year’s market price, global market prices and other commodities prices. There are separate prices for modern trade with consumer packaging at mini-marts and supermarkets.

If individuals have difficulty buying rice, they are urged to contact the Myanmar Rice Federation. The buyers can complain about overpricing to the Consumer Affairs Department and MRF.

MRF warned that overpricing, sales with inaccurate measurement and quality and non-compliance with directives are subjected to fines, taxation and prosecution under section 5 of the Essential Supplies and Services Law. Thus, rice millers, rice shops, traders and merchants are encouraged to comply with the rules. — NN/KK