Transportation disruptions and difficulties caused by floods in Myanmar have reduced the flow of vegetables resulting in hike in prices, according to traders.
Since the end of July, the floods in the upper regions of the country have ravaged much of the country’s infrastructure, and vegetable prices have risen.
“The main factor is transportation. Flow of the goods is one part of the problem, and another part is manipulation of prices by the traders. For instance, the price of onion should fall when the goods finally arrive, but even when the inflow of the product increases, the price hikes continue to occur,” U Khin Han, vice chairman of onion whole sale trading centre of Bayint Naung market, told Myanmar Business Today.
The price hike in the vegetable products occurred not only in Yangon but also in the markets of countryside to a lesser extent, said U Khin Han.
The prices of the vegetables such as chillies, onions, garlic, cooking oil, potatoes and green vegetables have increased by about K200 to K500.
“The prices are hiked pointing to the floods as justification. Actually, prices should not be that much. The difficulty is in the transportation sector. We heard that only the rice fields were destroyed, not other crops. But the prices have gone up and we have to sell according to those prices,” said a produce seller in Bahan township.
Source: Myanmar Business Today