Myanmar

WFP Myanmar Market Price Update (June 2022)

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Highlights

The cost of the basic food basket (rice, oil, chickpeas, salt) increased slightly by +4%, with largest increase in Mandalay (+8%). The increase was largely driven by rising edible oil prices.

Edible oil prices once again surged (+12-13%) following relative stability last month. The increase is due to restrictions placed on imports of palm oil that have led to domestic shortages, combined with high transportation costs.

Onion price also surged this month due to low domestic stocks and increase in foreign demand. In some regions, prices are 3-4 times higher than the same time last year.

The price of eggs overall stabilized, but with some variability across markets. In Tanintharyi and northern Sagaing, increases were associated with high transportation costs, while in Mandalay, traders again referenced high costs of chicken feed. Across most of the country, egg prices hovered around 1700-2500 Myanmar kyat per 10 eggs.

Tomato prices continued to rise this month due to decline in local seasonal production.

Fuel price increased from May to June by about 13% and diesel by about 24% and are more than double that of one year ago. By mid-July, prices had declined slightly (-16%).