Paddy Price Jumps in Western Border Area

Narinjara News
12/9/2006

The paddy price in the western Burmese border area has jumped up to 280,000 kyat per 100 tinn, or 250 baskets, from a price of 200,000 kyat just one week ago, after the rice harvest season began in the area, reported a trader from Maungdaw.

The trader said that the price of paddy in the border villages situated along the Naff River was only 200,000 kyat per 100 tinn in the last week of November, but when the paddy harvest season started yesterday the price for 100 tinn of paddy in the markets jumped to 280,000 kyat.

Another trader who visited the Bangladesh border town Teknaf yesterday said that on 6 December, the price of 100 tinn of paddy was 260,000 kyat in Maungdaw Township, and he stated that he was awed by the rise of prices up to 280,000 kyat in just one day.

A resident from Maungdaw said that not only is the paddy price going up, but also the prices of other rice products have risen within the week.

He said that a pyi, or 8 milk cans, of Eima Tha rice went up to 520 kyats from 400 kyats yesterday after the price of paddy rose.

According to local sources, many residents in the area are worried about the large jump in paddy prices in just one week, and they are looking for paddy to buy and store for next year's rations.

One source said the price of paddy was able to rise so high this year because of the reduced supply in Arakan and areas of Maungdaw this year.

In the south of Arakan, the price of paddy has also increased after paddy supplies were reduced this season from water damage in floods, said the trader from Maungdaw.

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