By Mu Dra - Jun 05, 2024

The skyrocketing price of goods in Myanmar has become obvious these days, and the price of rice, which is a staple food in the country, has been raising in multiples within the country.

In this situation, despite the fact that some basic people are consuming coarse rice which is cheaper than rice as a substitute, the relevant Myanmar Rice and Rice Association is planning to export 135,920 tons of rice this month as a way to earn foreign currency.

Currently, in the domestic rice market, the price of refined rice has risen to 8,500 kyats as the highest price, and the lowest price of coarse rice is up to 3,000 kyats. Therefore, the price of rice has increased by 1,000 kyats to 15,000 kyats compared to the beginning of last May.

The rising price of rice is also difficult for people. Now, it's not only rice, but other consumer goods are raising as well. The only thing that doesn't follow is the salary, so the people who were comfortable before are also tight. From the beginning, life is worse for basic class. People rushed to buy the rice that was sold to feed the ducks and chickens in a rice mill. They are even thanking for selling them with 3,000 kyats per pyi (2.24kg)," said a rice trader.

According to the press release of the Myanmar Rice Association and exporters, the status of foreign rice exports in the fiscal year 2024-2025 is 2.5 million tons of refined and coarse rice and there are eight ships docked at eight international ports to export rice abroad. 12,500 tons of rice from Ahlone International Port, 12,500 tons of rice from Yangon International Port, 10,000 tons of rice from Bo Aung Kyaw Port, 9800 tons of rice at Wilmar port, 91120 tons of rice from Sule Port; a total of 135920 tons of rice will be exported this month.

In addition, it is known that 4 more ships will arrive to export 74,000 tons of rice to international ports in the near future.