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September 21, 2018

China’s purchase price, transportation bring down rice prices

A man checks rice as summer paddy is being harvested at a field in Mandalay. 
Photo: Min Htet Aung (Mandalay Sub-Printing House)

The price of rice exported from Mandalay Region is on the decline, as China is lowering the purchase price, in addition to difficulties faced during transportation, according to rice depot officials.
Chinese merchants are reducing the price of rice, as exported rice is sent from various townships to the Sino-Myanmar border trade channel. In addition, there is tight confiscation along the trade route, as China considers rice that exceeds the quota, as illegal. This being so, the price of rice is decreasing, said a merchant. Rice meant for export is primarily produced in Magway, Yamethin and Sagaing areas. The price of rice has decreased from Ks24,000 to Ks22,000 per bag weighing 30.75 viss (one viss equals 3.6 lb). The rice market needs to be traded through a government-to-government agreement or policy change. Nevertheless, the price of rice is likely to continue to be on the decline.

Min Htet Aung (Mandalay Sub-Printing House)

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