BUSINESS – Rice storage scheme starts 15 March

A rice storage scheme, which will allow farmers to stock surplus rice instead of selling it at low prices during the harvest season, will launch on 15 March, according to the Myanmar Rice Federation’s general-secretary Ye Min Aung. Speaking at an MRF conference in Rangoon on 6 March, the official said that farmers who stock their rice under the scheme – which has UNFAO backing – will be issued insurance documents which can be mortgaged for bank loans.