Cosmetics among rising prices amid pandemic

By DMG 07 Oct 2021

DMG Newsroom
7 October 2021, Sittwe

Prices of cosmetics such as facial foam, lotion, tonor and makeup are up by 30% this month, according to cosmetics shops.

The price rise has been highest for USA- and Japanese-made cosmetics, vendors said.

“The price of cosmetics is rising now. And some cosmetics have run out of stock. We cannot easily buy some cosmetics,” said Ma Bon Bon of Bon Beauty Glowy Sittwe Cosmetics, which sells cosmetics manufactured in South Korea, Japan and the United States.

“An item that was priced at K24,000 previously became K29,000 this month,” she said.

With cosmetics prices increasing, sales are slowing, said Ma Nandar, a cosmetics distributor in Myebon town.

“Since the prices are rising, buyers have to consider their expenditures and sales are down,” she said.

Ma Bone Myat Yin, who sells cosmetics in the Arakan State capital Sittwe, said: “The price of an item of about 5,000 kyats rises by about 1,000 kyats. And, we have to pay 5,000 kyats to transfer 100,000 kyats to the wholesalers in Mandalay. So, it is not convenient to do business.”

Some locally based online shops selling cosmetics have also suspended operations due to the product price increases, as well as higher transportation costs and difficulty withdrawing or transferring cash through Myanmar’s beleaguered banking system.

Cosmetics are among numerous products that have seen prices moving in an upward trendline as the Covid-19 pandemic has dragged on.