On 15 October, the Government’s Leading Committee for Farmers Rights Protection and Interests Promotion announced the floor price for the 2019/20 main and second season low-quality paddy crops. The price was fixed at MMK 500 000 per 100 baskets (one basket is equivalent to about 21 kg), the same as in 2018 when the measure was introduced (FPMA Food Policies). The floor price is set depending on the production costs as well as the prices in the domestic and international market and aims to protect farmers against the low prices during harvest time. The Government, via the rice procurement committees and with the support of the Myanmar Rice Federation, will purchase paddy from farmers at the set rate if the market price falls below it. However, if the market price rises above the floor price, purchases would be made at the prevailing rate.