Despite falling exchange rates, consumer goods prices remain high in Myawady

Despite falling exchange rates, consumer goods prices remain high in Myawady
Published 29 September 2024

In the border town of Myawady, where trade is conducted in both Myanmar Kyat and Thai Baht, it has been reported by local residents that despite a drop in the exchange rates for both Baht and Dollar, the prices of basic foodstuffs and consumer goods remain high.

In the Myawaddy consumer market, meat, fish, vegetables, foodstuffs, cosmetics, and other consumer goods are purchased with Thai Baht from Thailand and then resold in the Myawady market for Kyat.

Currently, although the Baht has depreciated and 100,000 Kyat now equals 700 Baht, local residents report that prices remain at the same level as when the exchange rate was 500 Baht to 100,000 Kyat. 

One resident of Myawady said, "When the Baht rate was high at 500 to 100,000 Kyat, a bowl of mohinga cost 2,000 Kyat, with fritters it was 2,500 Kyat, with a duck egg 3,500 Kyat, a piece of ei-kya kway (deep-fried twisted dough sticks) was 1,000 Kyat, apiece of  nan-bya (Indian flat bread) was 1,000 Kyat, and a cup of tea was 2,000 Kyat. A long eggplant was 1,000 Kyat, four tomatoes were 1,000 Kyat, a duck egg was 900 Kyat, and a chicken egg was 600 Kyat. I won't list the rest. Now, even though the Baht has dropped to 700 Baht per 100,000 Kyat, the prices haven't gone down. Why is that?"

Additionally, local basic foodstuffs such as rice, chilies, onions, potatoes, and various types of beans have not decreased in price due to the high cost of transportation along the Dawei road, and they continue to rise.

Travel costs between Myawady-Yangon and Myawady-Mawlamyine have also increased. Previously, the journey cost only 30,000 Kyat, but now it has risen to 150,000 or even 200,000 Kyat. What used to be a day trip now takes anywhere from one to three nights due to the conditions of the roads, according to travelers.

Though people travel using the old Myawady-Kawkareik mountain road, Highway 1018, Htokkawkoe Road, and Kyet U Taung Road, the rough conditions have slowed down transportation of goods, and the excessive toll fees have kept prices high.