Prices for monsoon paddy rice are expected to reach Ks550,000-Ks600,000 per 100 baskets this year, a 10- per-cent decline compared with the last year,
according to Dr Soe Tun, vice-chair of Myanmar Rice Federation.
Last year, prices for monsoon paddy ranged from Ks600,000 to Ks650,000 per 100 baskets. But the finished paddy price will remain unchanged this year, ranging from Ks900,000 to Ks1,400,000 per 100 baskets.
“Farmers are preparing to grow monsoon paddy rice in some regions. Rice exports have halved. We need to be cautious about it as the country mainly exports rough rice. I think as prices for finished paddy fluctuate farmers may reduce production,” Soe Tun added.
The government says it will prioritise rice production.
Farmers needed to choose high-yield paddy strains for the monsoon and hot-season seasons, ensure correct planting techniques and more machinery, he said.
Rice is exported to Africa, Belgium, Japan, Singapore, India, Spain, France, Malaysia and Canada but the majority goes overland to China.
Source: Eleven Myanmar