Official says Myanmar has enough rice stock
Khit / Myo Gyi (NP News) – Aug 24
A press conference was held in Naypyidaw on August 22 by the State Administration Council (SAC). During the press conference, the permanent secretary of the Ministry of Commerce Min Min said that there are more than 3.5 million tons of rice stock remained in the market; therefore, the country has enough domestic rice stock.
“According to our survey data and calculation as per the ground information, Myanmar remains over 3.5 million tons of rice stock at the time being. That amount is enough to cover the domestic demands till upcoming raining season,” Min Min said.
In Myanmar, there are about 15 million acres of monsoon paddy and the production of rice is 1088 million bushels, and the acres of summer paddy is two million and 213 million bushels of rice are produced, making a total of 1301 million bushels of paddy.
That 1301 million bushels of paddy can produce 13.01 million tons of rice and the net amount after filtering is 12.282 million tons of rice.
A total of 9.402 million tons of rice is needed to feed 55 million population of Myanmar at the moment; and therefore, approximately 2.88 million tons of rice are exported.
The permanent secretary also said that the government is processing to control the high price of domestic rice.