Thailand
Myanmar: Govt to allow rice exports if local prices sink
The government is set to announce next month the basic price of rice in the coming rainy season and is expected to allow exports of raw rice if the prices in the local market drop too low in order to stabilise the country’s staple food, a senior commerce official said.
Deputy Minister of Commerce U Aung Htoo, said limited exports of the rice will be allowed if the basic price sinks.
“We agreed to export a designated quantity (of grains) during the designated period,” he said on Tuesday.
The government set K500,000 (US$327) as the base price for every 100 baskets of rice for 2018. Each basket is roughly equivalent to 20.86 kilogrammes.
There is now an ongoing discussion among members of the Assembly of the Union, the Myanmar Rice Federation and farmers’ representatives on the basic price of rice, U Aung Htoo said.
The deputy minister said that if the price of rice shoudl drop below the new base price which is set to be announced on October 15, exports of rice will be allowed to stabilise the price.
Over the past few years, Myanmar has not allowed the export of rice to ensure steady supply in the domestic market but there were occasions when exports to other countries were permitted as a means to raise the price of the grain to prevent farmers from suffering losses. – Translated
Source: https://www.mmtimes.com/news/govt-allow-rice-exports-if-local-prices-sink.html