In Myanmar, rising food and fuel prices endanger the poor: UN | Business and Economy News

Price hikes of up to 35 percent in food and fuel since the coup make it harder for the poor to feed themselves, the UN’s World Food Programme says.

The UN food agency said on Tuesday rising food and fuel prices in Myanmar since a February 1 military coup risk undermining the ability of poor families to feed themselves.

Myanmar has been in turmoil since the military removed the elected government and detained its leader, Aung San Suu Kyi, with protests and a civil disobedience campaign of strikes paralysing parts of the economy.

The World Food Programme (WFP) said food prices were rising, with palm oil 20 percent higher in some places around the main city of Yangon since the beginning of February and rice prices up 4 percent in the Yangon and Mandalay areas since the end of February.

In some parts of Kachin State in the north, the price of rice was up as much as 35 percent, while prices of cooking oil and pulses were sharply higher in parts of Rakhine State in the west, the WFP said in a statement.

The cost of fuel has risen by 15 percent nationwide since February 1, raising concern about further food price increases, it said.

‘Near paralysis’

“These rising food and fuel prices are compounded by the near-paralysis of the banking sector, slowdowns in remittances, and widespread limits on cash availability,” the WFP said.

The agency’s country director, Stephen Anderson, said the signs were troubling: “Coming on top of the COVID-19 pandemic, if these price trends continue they will severely undermine the ability of the poorest and most vulnerable to put enough food on the family table.”

A spokesman for the ruling military council did not respond to telephone calls seeking comment. State media has reported this week that farmers are expecting good prices for their crops of onions and chickpeas.

The WFP is helping to support more than 360,000 people in Myanmar, most of them displaced by conflict over the past 10 years.

The agency reiterated a call from the UN secretary-general for the will of the Myanmar people expressed in November elections to be respected, Anderson said, adding: “At WFP we know all too well how hunger can quickly follow when peace and dialogue are sidelined.”

The military defended its coup saying its complaints of fraud in a November election won by Aung San Suu Kyi’s party had been ignored. The election commission said the vote was fair.

At least 183 people have been killed by security forces in protests against the coup, a human rights monitoring group said.

Myanmar, once Asia’s main rice basket, was among the region’s poorest countries after the military seized power in a 1962 coup and imposed an autarchic “way to socialism”.

The economy boomed after the military began to withdraw from politics a decade ago.

Next Post

Penang’s Bella Food takes packed lunch to another level

Fandi Khor (left) and Nisha Rezqi (right) took the opportunity to start a business selling packed lunches during MCO. — Picture by Steven Ooi KE GEORGE TOWN, March 17 — The Covid-19 pandemic and subsequent movement control order (MCO) led to many losing their jobs but for best friends Fandi […]