MRF works to ensure fair rice prices amid market manipulation attempts

 

June 20

 

The Myanmar Rice Federation (MRF) is actively engaged in efforts to stabilize the rice market and ensure fair pricing in the face of attempts at market manipulation. Recognizing the long-term benefits of a thriving private-sector rice industry and aiming to alleviate the burden on consumers, a working committee was formed during a recent rice purchasing coordination meeting held on June 17. The committee discussed and planned further procedures to address the issue.

 

Key objectives in commercial rice trading include establishing fair prices for consumers, ensuring profitable pricing for growers, minimizing price fluctuations in line with international market rates, and promoting fair competition on the global stage. According to market data from the Rice Wholesale Centre (Wahdan), high-grade Pawsan rice from Shwebo is currently priced at K110,000 per bag at the wholesale level, while the retail price exceeds K130,000 per bag.

 

During the second week of June, the prices of Shwebo Pawsan rice experienced a slight increase in Shwebo, YeU, and Kalay districts. However, the Department of Consumer Affairs in Sagaing Region reported that prices have remained relatively stable in other districts of the region. Approximately 24,000 bags of Shwebo Pawsan rice entered the Yangon market in the first week, followed by 25,000 bags in the second week. — TWA/EM