CNI News
1 September 2023
The people in Myanmar are facing with high commodity prices at present and rice and edible oil are needed to be sold in every store at a price that the grassroots can afford, said U Thet Zaw, an economic analyst, to CNI News.
At present, rice and edible oil traders associations are going around and selling rice and edible oil at a price that is about 50 percent less than the market price. When going around and selling by car like that, the price is so cheap that so many people are waiting in line to buy rice and edible oil. Selling like that was wrong, said U Thet Zaw.
" I went to South Oklapa yesterday. I saw a long line of people who are queuing there. As I went with a Japanese, he asked me what they were doing. I had to explain to him. Because the prices of rice and edible oil are very high in our country, they were waiting in line to buy rice and edible oil that are being sold at a low price, that I told him. The queuing system has not died out as yet. The system is wrong. As a matter of fact, you can buy rice and edible oil in every store at the same price. The rice is cheaper at a big shop of theirs. That shouldn't be. If we act like a straw fire, the country will be in trouble. The price needs to be sustained for long. We don't encourage one or two-day work. It is important for the price to go down." he said.
Ministry of Commerce is selling rice to the people in Yangon at a low price
42 rice shops in 17 townships in Yangon City are selling Aemahta coarse rice at 2,500 kyats per pyi (one pyi = 4.375 lb), stated the Myanmar Rice Federation.
Bayint Naung Wholesale Center, Nyaung Bin Lay Market and edible oil shops would sell edible oil of 1.7 million tons at a wholesale price, according to the Myanmar Edible Oil Dealers Association.
Rather than coming and selling edible oil, if it can be bought in every store, it would be more convenient, said Ma Yadi, a housewife, CNI News.
" It would be the best if we could buy edible oil in every store at a reasonable price. These days there is no more middle class. There are upper class and basic class.." she said.
The market price of edible palm oil is about 9,200 kyats and Shwe Bo Pawsan rice is 120,000 kyats per bag, and Ayeyarwady Pawsan or Kyar Pyan rice, 100,000 kyats per bag.
