Price of low-grade rice spikes
The price of low-quality rice has increased due to a shortage of leftover rice and dollar appreciation, according to the Myanmar Rice Federation.
“The amount leftover rice from last year is smaller than that of previous years. The rising dollar value is one of the causes,” said an official from the federation.
The price hike is not because of higher export demands, the official confirmed.
“Foreign demand and the export price remain unchanged. Rice exports happen daily through border routes.”
The price of a sack of Manawthuka – a type of low-quality rice – increased from Ks 21,000 (US$21) to Ks 22,000 ($22) this month. Customers began to pay about a thousand kyats more for other types of low-grade rice since last month.
Sandar Shwe from the Shwe-O rice market said: “The rise in the retail price is because of an increase in the wholesale price.”
The price hike varies with transportation charges in different parts of the country.
