Commodity prices suddenly rise after washout along Thai-Burma cross-border trade route

August 10, 2023

HURFOM: On August 7, 2023,, a section of one of the main routes along the Myawaddy-Kaw Ka Rate Road, which is essential to Thai-Burma cross-border trade, was washed away due heavy rains and landslides.

There has been flooding across Mon State. The Yangon-Mawlamyine Highway Road also flooded near Bilin and the flow of trade has also been stopped.

Commodity prices rose sharply on August 8 and some commodities will be out of stock very soon due to high demand.

“We’ve heard a section of the Myawaddy Road was washed away yesterday. Our store has run out of cooking oil. People immediately became aware that commodity prices rose after that happened. As expected, the price of cooking oil sharply rose today. The price for a pack of “prawn logo” cooking oil rose to 58,500 MMK. Yesterday’s price was 52,000 MMK. The price will continue to increase until the road is repaired. Some commodities will be out of stock,” said a woman who runs a grocery store in Ye Township.

People are worried about pending food shortages and began to aggressively buy foods and store them. Sellers increased their prices due to high demand and possible shortages.

“It’s very awful to hear that sellers have increased the price. There is a huge gap between the prices yesterday and today’s prices. Some prices have gone up from two or three thousands to even ten thousands. The people will die (of starvation),” said a housewife.

Commodity prices also rose last week due to the news that the junta would produce 20,000 MMK bank notes.

“The price for commodities has gradually been increasing since the attempted coup. There is no declination. The value of Burmese currency has dropped. Domestic workers who get paid in MMK are unable to feed their family,” said a daily worker.

Written by Modinator · Filed Under News