Since monsoon paddy arrived in the market in 2023, the prices of monsoon rice and new rice remain high.
In the last week of February 2024, the prices are K85,000 per sack for the non-premium rice and K100,000 per sack for new Pawkywe. Ayeyawady Pawsan rice price is ranging between K140,000 and K145,000 per sack and Shwebo Pawsan rice is K160,000 per sack respectively.
According to the rice price statistics, 100 baskets of Shwebo Pawsan price is valued at K4 million, and a sack of Pawsan rice is K150,000 and old rice K160,000. New Ayeyarmin rice of 100 baskets is K3.2 million and Ayeyarmin new rice one sack is K140,000 in the third week of February 2024.
A paddy grower from Bogale Ko Soe Tint told the Global New Light of Myanmar that 100 baskets of new Pawsan paddy in the Delta region is K3.5 million.
In the third week of February 2024, the price of 100 baskets for Shwebo Pawsan is even higher than the price of a tical of pure gold. In 2023, price for Shwebo Pawsan 100 baskets was K3.7 million while the pure gold price for a tical was K3.3 million. Thus, 100 baskets of Shwebo Pawsan cost higher than the price of a tical of the pure gold.
According to the daily price statistics of some rice mills in Wakema Township in delta region in mid-2023, 100 baskets of paddy was priced at K1.93 million for Pawsan, K1.45 million for Hnankar, and K1.6 million for Thukha monsoon paddy.
The rice related NGOs revealed the monthly reference prices of rice in harvesting time of monsoon paddy in 2023. However, the rice reference prices are not found on social media this year as on-ground rice prices are getting much higher, a consumer told the GNLM.
A total of nearly 250,000 acres of summer paddy are grown in Sagaing in 2024. Ayeyawady, Bago, and Yangon regions produce the highest volume of rice annually.
The rice price is getting surged in 2023 and 2024. The 2022 monsoon rice earns much more when arriving in the market.
There are approximately 5.2 million acres of paddy cultivations in Ayeyawady Region and therefore, it accounts for 30 per cent of paddy cultivations in the whole country. Accordingly, the rice growers earn more from 2023 monsoon rice. — TWA/ TMT
