Paddy trade in Shwebo, Sagaing Region, has cooled off ahead of the Thingyan festival, but the prices have not declined, according to local rice brokers.
Currently, Pawsan paddy is priced at K1.45 million per baskets 100 in Shwebo. Farmers in Shwebo grow nearly 500,000 acres of monsoon paddy every year, using water from the Thaphanseik Dam to irrigate their fields. This year, more than 400,000 acres of land were put under the Shwebo Pawsan paddy, which yields a good harvest as it is suited to the weather and soil in Shwebo. Shwebo Pawsan paddy fetches the highest price in Myanmar.
Some farmers want to sell paddy in order to earn more money ahead of the Thingyan period. Currently, the paddy market has seen a decline in demand, but prices are high. “The price of paddy has not declined. There are no buyers in the market as trade has closed in the pre-Thingyan period. During this period, paddy brokerage centers and rice mills will not operate. Staff and drivers will take a rest, go on a pilgrimage, or visit their native towns. After the Thingyan New Year Water Festival, I will buy paddy at the local rates,” said U Ye Lin, a paddy broker from Kanthit village.
—Yaung Ni Tin Win
(Translated by Khaing Thanda Lwin)