By Ma Ma - May 28, 2024

According to shopkeepers, it is becoming difficult for retail shops to stay afloat as the price of domestic goods, including basic food to consumer goods, is rising every day. 

At present, commodity prices are changing daily. Due to this situation, retail stores are facing the problem of increasing capital and declining sales.

“We sold with 550 kyats but have to buy with 600 kyats later and that’s happening rapidly. It is stressful to sell goods. Even if we sell, we are worrying if we could buy with that price again and if there is shortage. My shop is a family business, so we don’t have much capital. We will close the shop if the situation get worse because there is no interests, some shops have already closed,” said a family business shop owner.

Commodity prices have been rising faster after the coup d'état. During the Thingyan, there was a record rose, and there are currently shortages of goods.

"A pack of coffee is sold for 350 kyats. The kids snacks which sold for 50 kyats before  it is sold for 100 kyats now. The price of some items has not gone up, but the quantity falls. Only two pack of snacks have equivalent amount for a pack of its before and there are many family shops right now. Many people open shops to earn extra income. But the demands are decline due to raising prices. A shop in a street may benefits before but 3 or 4 shops is not,” said a shopkeeper.

The commodity price are continuously increasing due to the decline of currency values and difficulties in transportation.

The raw rice price is 5,000 kyats and the palm oil cost 900 kyats. A branch of sweet potato leaves cost 700 kyats, a 10 kyats thar (166g) of tomato cost 400 kyats and a peiktha (1.6kg) of onion cost more than 2,000 kyats and a peiktha of garlic cost around 1,500 kyats.

Photo – A market in Hlaing Thar Yar Township