Myanmar Farmers Association
(MFA) has submitted a proposal to Thein Sein’s government to set up a
rice price insurance program recently that will protect rice market
crash.
Protecting farmers from potentially
disastrous losses and rice market crash, MFA urges the government to buy
rice from producers and farmers with rice price insurance.
Local rice price has dropped down to US$350 per 1050 kg as well as the global rice market seems declining.
The supply is higher than the demand due
to havesting moonsoon paddy from various regions and selling harvested
paddy for summer cultivation.
“High-yeild rice this year in rice
exporting countries and shipping delay due to December consecutive
holidays in rice buyer countries, have dropped down the rice price as
well,” stated in the proposal of the chairman Dr. Soe Tun of MFA.
MFA has asked the government’s National
Rice Reserves Supervisory Committee (NRRSC) to consider buying at least
10,000 metric tonnes of rice (Emahta) with the balance of the
committee’s budget, buying about 1.05 million kg rice (Ematha) daily
from the Myanmar Agribusiness Public Corporation (MAPCO) as well as
buying rice from Rice Mill Associations, rice export companies and
farmers who are having difficulties selling their rice.
The MFA is willing to negoctiate with
Myanmar Paddy Rice League, Rice Traders Union, Rice Milll Associations
and MAPCO to sell the rice to NRRSC.
To protect recent rice price decline
MFA urges the government to buy a total amount of 100,000 metric tonne
rice next month due to the rice price has dropped down to production
cost.
source: Eleven Myanmar
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