Rice prices rise 25% in Three Pagoda Pass

May 5, 2008

HURFOM:

Rice prices have risen twenty-five percent in Three Pagoda Pass on the Thai-Burma border.

Two weeks ago a 60 kilogram bag cost 820 baht. Today, the price is 1030 baht.

While much of South East Asia is facing a rice shortage, unseasonably early rains have made the roads along which new supplies of rice must travel to Three Pagoda Pass impassable. The early rains caught some traders by surprise, and they have not had sufficient stocks to handle the supply disruption.

The rice shortage has been worsened by the fact that over three hundred bags of rice a day have been crossing the border into Thailand, reports a source in Three Pagoda Pass. Officially, the border crossing has been closed for more than a year, but three weeks ago the Irrawaddy reported the burgeoning illegal trade. Last week, however, Township authorities held a meeting with rice traders to announce a ban on rice sales to Thai agents.

Non-commercial buyers of rice are also facing restrictions, and sources in Three Pagoda Pass say that they must provide officials with an excuse if they wish to purchase more than three bags. Similar restrictions have been put in place elsewhere, both in South East Asia and in the United States.

Written by HURFOM · Filed Under News