The union minister for commerce said the ministry will buy rice for state reserve from the harvest of summer paddies.
"It is to help local farmers to earn
benefits and fair price for their summer paddies and we will buy paddies
under bidding system," the union minister Win Myint said.
He said the ministry bought out monsoon
paddies last year as well. Buying rice reserve will help rice market to
be stable from avoiding market crash. The government has succeeded in
stability of the rice market in Ayeyawady, Bago and Yangon Regions in
January as the rice price was started declining.
The rice price was $350 for 2177 Kg in
the beginning of January, it went down less than $300 for 2177 Kg in the
middle of the month because the quality of the rice. However, the
government bought that rice in time before the market crash.
source: Eleven Myanmar
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