June 6
THERE are around 4,000 and 5,000 kyats different between the sale centre and retail price of rice in the Yangon rice market, and the rice price has increased, according to business owners at Bayintnaung Rice Brokerage owners.
The price is up because the rice has to be refined by workers to be ready to cook in the retail market, as well as because of the home delivery service, said U Win Naing who runs a rice business.
At the end of March, a bag of Pyapon Pawsan was K54,000 and Myaungmya Pawsan, K55,000. In early June, the prices were up by K4,000/5,000, said Daw Mar Mar Win, a Mayangon resident. On 2 June, the price of a Pyapon Pawsan bag was traded between K50,000 and K52,000, Myaungmya Pawsan was traded between K53,000 and K55,000 and Shwebo Pawsan between K55,000 and K61,000.
Although the retail price is on the rise, most workers in Bayintnaung Rice Sale Centres are making less money due to the low distribution to the upper Myanmar and less demand from Yangon city. As a result, employers have to pay their workers.
New monsoon paddy is expected to enter the market in 2022 November, and the arrivals of the new paddy face a discount of around K10,000 per bag each year compared to the old paddy on the market because consumers are mainly buying old rice.—TWA/GNLM
