"KEY FINDINGS • Conflict shuttered Maungdaw market, and spillover concerns affected Kyauktaw and Mrauk-U; • Markets reduced operating hours in May, and five-of-seven operated only in the morning; • Customer traffic remained stable despite seasonal change and growing security concerns; • Lower fuel prices reduced shipping costs, and most markets saw growing inter-township trade; • Food and NFI supply improved somewhat after interstate highways partially reopened mid-May; • Retailers reported more challenges both seasonal and conflict-driven, especially in Mrauk-U District. Market Functionality - Markets were open in May, but some reduced hours due to security concerns. Five of seven markets monitored in May were open only in the morning, including several in major towns. Market hours were reduced in Kyauktaw, Mrauk-U, and Pauktaw. Market Activity - Markets remained active in May, and there weas more inter-township commerce. Markets in Kyauktaw, Ponnagyun, and Myebon were particularly active in May. Ward markets in Mrauk-U, Minbya, and Sittwe were naturally quieter but still saw relatively stable customer traffic. Minbya, Myebon, Pauktaw, and Ponnagyun saw more intra-township trade in May, possibly due to lower fuel costs in May. Availability of Goods - Supply of food and NFIs improved in May, possibly due to looser travel restrictions on interstate highways. Supply was generally stable or improved, perhaps due to more movement on interstate roads (which nonetheless remained unsafe). Supply improved most for scarce NFIs like medicines and hygiene items, and fuel supply improved as prices fell. Supply improved most in Sittwe and Minbya Towns, where some foods and NFIs were more available. Transport & Logistics - Lower fuel prices helped reduce shipping costs in multiple markets in May. Shipping costs declined in Sittwe, Ponnagyun, Minbya, and Mrauk-U, although they rose in Kyauktaw and held stable elsewhere. Retailers continued sourcing goods both by road and waterway, and some lead-times shortened slightly. Meanwhile, Sittwe retailers still remained largely isolated from markets in neighboring townships. Retailer Challenges - Retail challenges increased in May, particularly in Mrauk-U District. Retailers in Kyauktaw, Mrauk-U, and Minbya reported more challenges in May than in April, particuarly related to poor cash access and market damage. Retailers in Sittwe and Ponnagyun also reported growing challenges, particularly related to security and transportation. Overall, poor safety/security, limited transportation, and poor access to supply remained the most common retail challenges..."