The retailers warned on the rice price more than the set price in local market

If retailers are found to hike the rice price more than the set price, they will be struck off from the list to resell the reserved rice, according to Myanmar Rice Federation (MRF). At present, over 50 retailers have been submitted to purchase the reserved rice from the State. More than 1,000 bags from the reserved rice have been sold to them. Those reserved rice are planned to be sold at K22,800 per 108-pound bag to the registered retail shops, with the maximum 200 bags per batch. The shops must resell the rice to the consumers not exceeding K1,000-1,100 per pyi (2.3 kg) depending on the regions.
Moreover, there is a separate plan to sell the rice at the labour-intensive factories for the workers.
MRF stated that the respective Consumer Affairs Department of the regions and states will monitor the sales to ensure systematic management.
Regarding the rice purchase at a much fairer price, those interested retailers and factories can contact through mobile numbers at 09-694386994 of MRF and 09-694386996 of Myanmar Rice and Paddy Traders Association. The Ministry of Commerce, Myanmar Inspection and Testing Service (MITS), the authorized organization of the State and MRF implemented rice reserve scheme on 30 April. Myanmar has purchased an adequate amount of rice for the national reserve, and the State’s purchase from the exporters will temporarily halt starting from 1 August.
The state’s emergency rice reserve is to ensure food security, keep the price stable in the domestic market, continue to export them regularly, lessen the worries of the consumers during the coronavirus pandemic, and not to harm the rice production of farmers due to the price fall when the new paddy is harvested. To ensure the self-sufficiency during the coronavirus pandemic, the government decided to spend K38 billion to purchase foodstuff (50,000 tonnes of rice and 12,000 tonnes of palm oil) as the emergency food reserves, said Dr Than Myint, Union Minister for Commerce.

(The Global New Light of Myanmar: https://www.globalnewlightofmyanmar.com/retailers-warned-of-no-price-hike-to-resell-reserved-rice/ )

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