The Myanmar Rice Federation has issued a directive to rice millers, merchants, and brokers in Mon State, warning them against selling rice at inflated prices and instructing them to adhere to designated pricing.
Although official directives have not yet reached rice mills in Mawlamyine, authorities began inquiries on June 21 regarding current rice prices and potential price inflation.
A rice mill operator in Mawlamyine suggested that prices might stabilize due to the warning, as those hoarding rice will be prevented from selling at higher rates. “Prices might stabilize now. Those who were hoarding rice and inflating prices will not be able to do so anymore. We have not received any directives from Yangon yet,” they said.
In recent days, the military junta has investigated rice merchants suspected of price gouging. On June 22, it announced that rice must be sold at official prices.
Starting June 24, the official prices set by the Myanmar Rice Federation are:
– 135,000 to 145,000 kyats per bag for Shwebo Pawsan rice,
– 110,000 to 120,000 kyats per bag for Ayeyarwady Pawsan rice,
– 72,000 to 75,000 kyats per bag for 15% Emata rice.
Currently, in Mon State, a bag of Pawsan fragrant rice sells for around 133,000 kyats, and a bag of regular rice sells for approximately 100,000 kyats. While these prices are close to the official rates, sales have been slow, according to another rice merchant in Mawlamyine.
“Merchants have had to purchase at high prices. At the moment, the available rice is being sold at the set prices. We are clearing out the existing stock. Hoarders can’t hold out any longer, and prices will likely drop. Some have been storing rice in five to six warehouses,” another merchant explained.
Despite rice production in Mon State, the majority of rice sold in the region is imported from Bago, Ayeyarwady, and Yangon.
In the three and a half years since the military coup, domestic rice prices have nearly tripled compared to pre-coup levels, reaching the highest rates seen in over a decade.
