MoC Union Minister remarks rice reserve scheme

Union Minister Dr Than Myint of the Ministry of Commerce held a round of discussions, with businesspersons from Mandalay Region, on necessary matters of collecting reserve rice, stabilizing of the market, and ensuring smooth flow of goods at the coordination meeting through video conferencing at 10 am yesterday.

He remarked: “There is the self-sufficiency of rice in the local market and people need not worry about that. The state will purchase 50,000 tonnes as reserve rice from 10 per cent of export volume. Furthermore, it will buy 12,000 tonnes of palm oil. The K38 billion fund has been allotted for the state’s reserve rice purchase plan.”

Before this online meeting, the associations concerned have made a series of discussions on the rice reserve scheme. The minister called for details that underline the fair price and fair quality of reserve rice and plans to reduce wastes during storage.

Afterwards, Deputy Minister U Aung Htoo said that the ministry and the related associations have held coordination meetings frequently. The ministry has already notified the public of prohibited goods under the Essential Supplies and Services Law to maintain the stability of commodity price.

The ministry has projected the reserve scheme of basic foodstuffs (50,000 tonnes of reserve rice and 12,000 tonnes of palm oil) for a possible emergency condition as the Covid-19 threats are heightening.

“This is the first-ever reserve scheme and I’d like to request the officials of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to make some suggestions on the purchase price, warehouse location and distribution plans. The purchase plan of 10 per cent of export volume as reserve rice is underway,” said the deputy minister.

Later, the officials from the MoC, UMFCCI, Myanmar Rice Federation, Myanmar Rice and Paddy Traders Association, Myanmar Rice Millers Association, Myanmar Edible Oil Dealers’ Association, Myanmar Inspection and Testing Services Ltd discussed the formation of a supervisory committee on purchasing of reserve rice, purchase price, quality criteria and warehouse process. — MNA


(Translated by EMM)