This post contains the fifth column of an article on the challenges of weak credit for farmers in Myanmar. It comes from page 29 of 7 Day News, April 28, 2011. The rest of the article will be translated in a subsequent post.
Vocabulary:
စရိတ် ။ cost
ပျမ်းမျှ ။ average
အလိုက် ။ postpositional marker suffixed to nouns to convey the meaning of "relevance", "according to"
ကျွမ်းကျင် ။ to be skilled at
အာမခံ ။ pledge, guaranty, guarantor, insurance
ပေါင်နှံ ။ to pawn
စပါးပေး ။ system of setting a loan or purchase on credit with paddy at harvest time
Translation:
[Farmers] cannot get as much [financing] as [they] need because the financial loans from the [Myanma] Agricultural Development Bank have restrictions. One farmer gets a loan for only 10 acres of paddy land.
The total expended cost of planting one season of rainy season paddy, if averaged per acre, is between 100,000 and 200,000 Kyat according to the region, said a skilled rice worker.
"Only when each farmer owns the paddy field that s/he works will the whole 'industry' develop," explained an individual doing research on the Myanmar rice industry.
At the present time, farmers cannot pledge their own paddy land with banks and associations [in order to] take out loans. Because of that, often when finances are needed [farmers] must pawn [their belonging] or commit future paddy crops in order to take out loans with a high interest rates from local money lenders. The Bank's interest rate for one paddy cultivation season is only 17 percent.
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