Devastating Myanmar floods send paddy prices skyward
Surging demand following the widespread destruction of paddy fields during the recent flooding has forced a record spike in prices, say the Myanmar Rice Federation and local paddy and rice traders in Naypyidaw.
Since September, the price per 100 baskets of Manaw Thukha old crop in Naypyidaw has risen from under K700,000 to nearly K900,000 as of the second week of October, said Ko Myo Lin Aung, a paddy trader in Pyinmana, on 13 October.
