Myanmar

WFP Myanmar Market Price Update (August 2021)

Format
Situation Report
Source
Posted
Originally published
Origin
View original

Attachments

HIGHLIGHTS

  • Overall rice and oil prices in August 2021 remained stable compared to the previous month (+1-2%) but were considerably higher than the same time last year (+19% for rice, +61% for oils)

  • Kayin saw +14% increase in rice price due to a combination of COVID-19 that caused interruption of rice milling, shop closures and lockdowns, as well as conflict and flooding

  • The upward trend in chickpea and pulse prices continued as stocks decline amidst poor production this year and high local and international demand (+10% and +6% compared to previous month, respectively)

  • Egg prices stabilized in most areas but remain higher than normal (+27% higher than August 2020) given elevated demand, with the notable exception of Shan where prices increased again by +11% due to high demand, COVID-19 transportation-related challenges and worsening local exchange rate with the Chinese Yuan (the kyat has depreciated by 20% against the yuan between January and August 2021).

  • While commodity prices have been rising around the country, Shan state has seen noticeably consistent upward pressure on nearly all commodities since early 2021 due to the transportation challenges and the dependence on the Chinese Yuan.

  • Overall tomato prices continue to fall (-8%) as local availability improved. However, some areas saw rising prices given dependence on importing from other states/regions and transportation challenges (cost, travel restrictions, delays and reduced frequency causing spoilage, etc.)

  • Of reporting traders, 12% experienced scarcity in products in August, 17% indicated that they did not expect to receive products within a week of ordering and 16-17% said they could not predict prices 1 week or 1 month from now for at least some commodities.

  • Fuel prices declined slightly from end of July to end of August, at -3% for diesel, -2% for premium diesel, and -1% for octane 92 and 95 each. Compared to the beginning of February 2021, prices are +36-50% higher by fuel type across the monitored townships.