Wu Nielin, chairman of the Myanmar Rice and Rice Merchants Association, said that in order to control the rising domestic rice prices and reduce rice exports, it applied to the relevant departments to suspend the approval of new rice export licenses for 45 days.

At present, the relevant application has been submitted, starting from the end of August for 45 days, the rice export company will not be granted a new rice export license.

Wu Nielin said that the temporary suspension of the approval of new rice export licenses will have a certain inhibitory effect on domestic rice prices. To calm rising prices, a nationwide sale of rice reserves has been promoted, and more than 200,000 bags of rice reserves have been delivered to provinces, including Rakhine State.

In order to stabilize the rice price, the Myanmar Rice and Rice Association and the Rice and Rice Merchants Association have sold around 20,000 bags of rice since August 7 in Yangon, at a discount to the retail price.