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This is the first time in history of cooking oil sales that we have ever heard of such a high rise,” said Than Than Myint, a retailer and wholesaler in Pyawbwe township of Mandalay region. "The cooking oil price was around 2,000 kyats per viss at 1,150 kyats per U.S. In particular, the price of cooking oil – sold by a Myanmar unit of measurement called the viss that is equal to about 1.6 kilograms – almost tripled within a few days. No one wants to work at risk without getting enough income," said Min Wathan, a former journalist who turned to driving a taxi when he lost job after the coup.įood distributors say the rise in the dollar exchange rate has boosted the cost of food imports by 20% to 50%. "Driving around in Yangon is also dangerous because of frequent bomb blasts.
FATHER IN MYANMAR LANGUAGE DRIVERS
But drivers said they cannot ask for more money from passengers, which leaves them unable to pay the cost of fuel and owner fees. But I can still survive because my owner does not ask for rent during these days,” the father of three children told VOA.īefore the coup, the price of a liter of gasoline or diesel fuel was around 700 kyats. If I had to pay 10,000 kyats to my owner, I would get nothing. “Now I spend 20,000 kyats for fuel a day, but earn only 30,000 kyats. Before September, Al Doe earned 30,000 kyats per day and spent 6,000 kyats of that for fuel.
FATHER IN MYANMAR LANGUAGE DRIVER
“It is the worst situation I have ever had in 40 years of driving a taxi,” said Al Doe, a 53-year-old taxi driver in Yangon’s North Dagon township. Many have stopped driving because they cannot afford fuel and some tell VOA they will quit the business entirely if the price does not drop. Yangon taxi drivers have been particularly hard hit. Since then, the prices of fuel and imported commodities, especially cooking oil, have risen by nearly 50%, prompting laments from local businessmen who spoke to VOA, including rice exporters and merchants, importers of cooking oil and grocery dealers. The dollar exchange rate showed particular volatility during the last week of September, when surging demand for the American currency pushed the rate to a record high of about 2,700 kyats to the dollar – almost double the rate before the Feb. An unprecedented plunge in the value of Myanmar’s currency, the kyat, has driven up the prices of key imported commodities, placing basic commodities ranging from auto fuel to cooking oil beyond the reach of many ordinary citizens.