Rice prices rise along with general commodity prices

Amidst rising general commodity prices during the interim government's 100-day plan, rice prices have also followed suit, according to market sources. Rice prices have been on the rise since the end of July, with prices increasing by 3,000 kyats, 5,000 kyats, to nearly 10,000 kyats per bag depending on the type of rice, according to retail and wholesale markets in Yangon. It is understood that in addition to rice prices rising due to flooding and inundation, when asking rice shops about prices, they are experiencing situations where prices are unstable, they cannot ask openly and transparently, and they are told various prices. "Rice prices were already rising before the floods. In recent days, prices have risen more. Some shops are jacking up prices. The price difference for a single type of rice is about 20,000 kyats. Shwebo Pawsan Mway Shwe Shwe Shey is the highest at nearly 300,000 kyats," a housewife from Yangon told the Irrawaddy Times. In the domestic retail rice market, prices are 260,000 kyats per bag for Nadi Shwebo, 220,000 kyats for Shwebo Pawsan Mway, 195,000 kyats per bag for Ayeyar Shwebo Shwe Shwe Shey, 190,000 kyats for Myanmya Pawsan, 180,000 kyats for Cha Pyant Shwe Shey, 135,000 kyats for Sin Thweya Shey, 115,000 kyats for 90-day rice, and 95,000 kyats for Ze Ya, and prices are unstable due to flooding, according to investigations. "Prices have already risen in the wholesale market. Rice prices are rising due to other costs. They are selling while managing the difference between the old price and the increased price. Rice prices did not rise immediately due to flooding. Everything has risen because other costs have risen," commented a rice shop owner. Furthermore, it is reported that pests and wilting are occurring in the currently cultivated paddy fields, which may lead to a decrease in rice yield, according to a farmer from Kawhthan town. In addition, it is understood from the Myanmar Rice Federation that paddy fields in Ayeyarwaddy Region may be damaged by flooding and inundation, and after the water recedes, damage will be assessed, and discussions will be held to ensure timely replanting by providing chemical fertilizers, pesticides, and inputs, and if timely replanting is not possible, to cultivate winter crops such as pulses and beans. In Ayeyarwaddy Region, there are 3.7 million acres of monsoon paddy fields, with 0.31 percent of the area inundated, and in some areas, it takes a long time for the water to recede, so assistance will be needed to replant other crops in some damaged areas, according to the organization. Photo – Social Media