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- Import license requirements dropped for about 600 goods
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- Myanmar’s low-cost SIM card reaches 500,000 kyats
- Low-cost GSM to sell in June
- Korean firm, military-owned conglomerate joins partnership for garment business
- Energy giants desire transparent governance in Myanmar
- Effect of Cyclone Mahasen: Yangon’s commodity prices up
Published on Thursday, 10 January 2013 17:36
The National Rice Reserves Supervisory Committee of Myanmar will buy rice for state reserve in January.
According to an announcement by the committee, the export-quality Emahta rice [25 per cent broking] has been named to stock pile on tender basis in Yangon region.
Having invited rice traders to submit their tenders before January 10, the committee has set certain terms and conditions in its announcement.
It restricts the deal’s amount for each individual or company within a range of 100 tonnes to 2,000 tonnes. It also requires bidders to deposit 1 million kyats (US$1,200) as “tender security deposit”, which will be confiscated if they breach the tender rules.
An official from the committee said that the rice will be accepted only if it passes quality inspection. If the rice is rejected due to lower-than-standard quality, the traders will have to replace it within three days on their own expense.
Myanmar government bought rice for state reserve two times in the last quarter of the previous year.
The National Rice Reserves Supervisory Committee is the supervising body, while Central Cooperative of the country and Myanmar Rice Federation have to cooperate and undertake the responsibilities to reserve rice for the state.