KALADAN PRESS NETWORK

Dated. June 18, 2002.

UNUSAL PRICES HIKE PUSHING ARAKAN PEOPLE INTO GRIEVOUS SITUATION

By Our Correspondent

Buthidaung, Arakan, June 18: The prices of essential

commodities, including rice, have shot up in Arakan

affecting the people into grievous situation, said a

village council member.

The prices of rice, meat, fish, edible oil, garlic,

sugar and various kinds of vegetables have a sharp

rise in different markets of Arakan state, triggering

grave concern among the people of lower income group.

Fine variety of rice is now being sold between Kyat

7,500 to 8,000 per 50-Kg bag as against Kyat 7,000 per

50-Kg. bag a few days back.  Coarse variety of rice is

now being sold between Kyat 6,000 to 6,400 per 50-Kg

bag, said a housewife in Buthidaung.

Soybean oil is being sold between Kyat 1,000 and Kyat

1,500 per viss (1 viss=1.75 kg), dry chilli is 1,750

to 1,850 per viss, onion Kyat 200 per viss, garlic

Kyat 1,400 per viss, sugar Kyat 560 per viss, potato

Kyat 120 per  Kg, one can ( 250 Gms. ) of condensed

milk Kyat 120, salt Kyat 800 per 37 Kgs,  one cup of

tea Kyat 50,  beef Kyat 1,400 per viss, a big cock of

2.5 kgs. Kyat 3,500, a hen of 1.5 kgs. Kyat 2,000 to

2,500, First grade of fish Kyat 1,500 per Kg and

second grade Kyat 600 to 800, she further added.

Before Daw Aung San Suu Kyi’s release, the price of

gold was Kyat 160, 000 per Tical (1Tical=15.87gm), but

now it is Kyat 145,000 per Tical, said a gold-smith in

the town.

In the first week of May 2002, the exchange rate of

one US dollar in the black market is Kyat 1200 in

Rangoon but after the release of Daw Aung San Suu Kyi

on May 6, the exchange rate of one US dollar went dawn

to Kyat 820. At present, the rate of one US dollar is

885 Kyat in Rangoon and  in Akyab (Arakan State) it is

890 Kyat, a border trade

Merchant told  the Kaladan Press.    

The official exchange rate is 8-Kyat to one US dollar.

But most business transitions and consumer sales are

based on the black market rate, set by underground

dealers.  The black market is set free by the junta as

necessary for business, as the Kyat is not convertible

outside the country.

Since Burma’s military junta took power, the prices of

essential things have skyrocketed in Burma and the

Burma’s currency, the Kyat, fell low slowly day by

day. But, after the release of Daw Aung san Suu Kyi,

the Burma’s currency, the Kyat again has slowly risen,

further said a trader.

Some people in the town however say that though the

release of Daw Aung San Suu Kyi, the prices of

essential things have shot up. The poor people are

bearing the burnt of the situation.

Whenever the military junta faced economic crises or

the Burma’s currency fell down, the authority arrested

several currency traders and speculators blaming to

disrupt black market trade despite their (SPDC)

unskilled and inexperienced handling the country’s

economy. Burma’s military junta claims the country’s

economy is growing at a reasonable rate, but outside

analysts question their figures and suggest the

country’s economic health is shaky.

Editor

Kaladan Press