Myanmar Rice Federation Stakeholder Forum 2018 in Nay Pyi Taw. (One basket weighs 46lb or 20.86kg). It is the first time Myanmar is setting a floor price for locally harvested rice. All MRF member rice mills, rice traders and agents and private companies will buy rice that meet with designated quality standards, at the new price. The floor price excludes high-grade rice such as Paw San Hmwe and Ae-Ma-Hta. These varieties of rice will trade at the prevailing market price of between K700,000 and more than K1 million per 100 baskets.