RANGOON — Rice prices and exports have experienced a sharp drop this year as a result of a tightening of import restrictions by China, Myanmar Rice Federation Chairman Chit Khaing said on Thursday.

The slump in rice prices comes ahead of the start of the main rice harvest season and could have a serious impact on the livelihood of Burma’s farmers, already among the country’s poorest groups.

Chit Khaing said prices currently stood at about US$330 per 100 baskets of paddy (about 1,500 kilogram), down from about $400 per 100 baskets last year.

“Due to this big drop in prices a lot of farmers will face problems,” he said, adding that a tightening of Chinese border controls on the quality of Burmese rice and a crackdown on the smuggling of rice had caused the drop in demand and prices.

“At the same time, Thailand is increasing its rice sales on the international market too, that’s why paddy prices here keep falling,” he said, adding that domestic rice demand had already been met.

Until now, China had been buying up more than half of all Burma’s annual rice export, with much of the low quality paddy produced in the Irrawaddy Delta and central regions flowing across the Burma-China border with few border checks and through smuggling routes.

riceprice5y

A World Bank report in June said the government would need to take a range of measures to improve the quality of rice through investments in rice mills, while it should also reduce transport costs and formulate policies to support rice export and agricultural production.

View original post here –

Concerns Grow Over Severe Slump in Rice Prices

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

French oil company TotalEnergies withdraws from Myanmar

TotalEnergies has not been able to meet the expectations of many stakeholders (shareholders, international and Burmese civil society organisations), who are calling to stop the revenues going to the Burmese state through the state-owned company MOGE from the Yadana field production.

Myanmar: TotalEnergies Endorses Targeted Sanctions

Since overthrowing the democratically elected government on February 1, 2021, Myanmar’s military has carried out nationwide crackdowns on anti-junta protesters, activists, journalists, and the political opposition, killing more than 1,400 people and amounting to crimes against humanity.