Myanmar Rice Millers Association will form publicly owned company to bring rice millers for rice trading

Myanmar Rice Millers Association will form a publicly owned company; only rice millers will be allowed to buy shares of the company.

In this case here in Myanmar, a public company does not mean a listed company at the stock exchange; instead it is a private company with many shareholders.

“Forming a public company can bring rice millers for rice trading. It can also stabilize the price and market,” said U Kyaw Win, President of Myanmar Rice Millers Association.

The rice millers public company can connect rice traders and millers as well as expanding the market.

“Now, people are trading rice at their own price. The public company can standardize the price. Moreover, it can provide rice prices for both local and international markets,” he added.

Selling at different prices and rice millers operating in the market separately results in tough competition with foreign companies.

At present, there are around 30,000 rice millers and only around 10,000 rice millers registered as a member with the Myanmar Rice Millers Association.

Myanmar Rice Millers Association was founded in 1949 but dissolved as the government nationalized rice mills in 1962. The association was resumed in 1989. Currently, it has over 10,000 members at regional and state level committees.  

(Myanmar Business Today: https://www.mmbiztoday.com/articles/rice-millers-association-form-public-company )

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