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.

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