Commodity prices soar with shipping costs

Commodity prices soar with shipping costs
by -
Narinjara News
Sittwe: Essential and other commodity prices have soared recently in Sittwe, the capital of Arakan State, after the cost of shipping between Rangoon and Sittwe was increased by private shipping companies, said a businessman.

Sittwe: Essential and other commodity prices have soared recently in Sittwe, the capital of Arakan State, after the cost of shipping between Rangoon and Sittwe was increased by private shipping companies, said a businessman.

"In the past, the shipping cost was only 50 kyat per viss on goods from Rangoon to Sittwe, but it has now increased to 76 kyat per viss, which is 2.5 kilograms. So, the price of all goods has been going up in Sittwe," he said.

According to a market source, one brand of peanut cooking oil has increased to 4,300 Kyat per viss from 4,000 Kyat, while sugar has increased from 850 Kyat per viss to 900 Kyat per viss.

Prices of other goods have also increased, and a gallon of kerosene is now 6,700 Kyat from the previous price of 6,500 Kyat.

"Since many commodity prices are increasing in Sittwe, ordinary people are suffering," he said.

Previously, state-owned cargo ships such as Loikaw and Myit Kyi Na were plying the waters between Rangoon and Sittwe at least twice a month, but the authorities have stopped all government-owned shipping on the route due to fuel supply crisis.

"There is no government-owned shipping between Rangoon and Sittwe at present. All shipping links are owned by private companies, and the private companies typically increase the transportation costs whenever the fuel price goes up in Burma," he said.

A fertilizer trader said that in one sack of fertilizer, there are 31 viss, for which he has to pay 2,077 Kyat just to transport from Rangoon to Sittwe.

Arakanese farmers have little choice but to buy the fertilizers at the increased prices. Iron Ring, the standard brand of fertilizer, has increased to 47,000 Kyat per 50 kilogram sack recently in Sittwe.

Many customers have suffered because of the increasing prices, but authorities are not bothered to solve the problem. Most shipping companies are connected to senior army officials, said the fertilizer trader.