Govt to buy 30,000 tonnes of rice for state reserve

The National Rice Reserves Supervisory Committee of Myanmar will buy 30,000 tonnes of rice before January 2013, according to Ye Min Aung, secretary of Myanmar Rice Federation.

It will buy up a kind of rice called ‘Ematha (25% broken)’ on tender basis in Yangon region with the closing date on January end, 2013, he said.

“We will buy the rice in Yangon since it is commercially strategic, and rice from Ayeyarwady and Bago regions (where rice is mainly produced in the country) is normally traded in Yangon,” Ye Min Aung said.

He added that the rice prices are falling in the market, but the stocks are not piling up in the farmers’ hand either.

This is the second time the government has bought rice during this year, since it bought 16,000 tonnes of rice during November 2012.

“In the first time, we planned to buy 20,000 tonnes of rice, but actually did 16,000 tonnes only,” Ye Min Aung said.

He did not mention the reason, but said the government bought proportionally in different regions: 10,000 tonnes from Yangon, 6,000 tonnes from Ayeyarwady, and 4,000 tonnes from Bago. Various kinds of rice such as Ematha, Long grain, and Medium grain were bought up then.

The National Rice Reserves Supervisory Committee has to take the supervising role, while Central Cooperative of the country and Myanmar Rice Federation have to cooperate and undertake the activities to reserve rice for the state.

 

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/1943-govt-to-buy-30-000-tonnes-of-rice-for-state-reserve