Tag: Business

New Myanmar kyat note

Myanmar (Burmese) state media on September 24 announced the distribution of new currency notes from the central bank of Myanmar. The new notes are in 5000 kyat denomination, and will be started distribution on first October. The new note will…

Overseas job agencies closing in 2009

According to some observers from Yangon, most official overseas job agencies will not extend their license this year. There are currently 132 officially registered overseas employment agencies operating in Yangon. Among them, at least half are probably not going to…

Myanmar tourist arrival drop in 2008

According to the official figure from Myanmar Hotel and Tourism Ministry, the arrival of foreign tourists to Myanmar drop by 25 percent compared to 2007. The foreign tourist arrival to Myanmar in 2007 was 248,076 while the arrival in 2008…

Rice grain price falling but …..

Rice prices in Myanmar are falling. However, fall in price is mainly in the price paid to the rice farmers for rice grain. The price of polished rice sold in the domestic market remains high. Current grain price for low grade rice is 250,000 kyat (about US$ 250) per 100 tin (Burmese system for measuring rice and grain, equivalent to 66 sacks), while the price for high grade rice is currently at 450,000 kyat (US$ 450) per 66 sacks. (Rice in Burma is usually sold in sack). This is the price paid to rice farmers by the millers.

Polished rice at the wholesale market is currently at 14,000 to 16,000 kyat (US$ 130 – 150) per sac for low grade rice, while high grade rice is sold at more than 24,000 kyat per sac. Usually, 66 sacks of grain will yield 32 sacks of polished rice after milling. At this rate, 66 sacks of grain (bought at 250,000 kyat would yield more than 500,000 kyat (double the buying price)………

Myanmar Currency Exchange Rate

As of 1 April 2012, Central Bank of Myanmar has officially float the kyat in the market. Currently, there is not much difference between the official rate and black market. Official rate now reflects the actual market rate. If you…