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Prawn price hike attributed to dollar’s rise
The ongoing depreciation of the kyat has caused a price hike in the prawn market in Arakan State, according to prawn traders.
27 Sep 2021
DMG Newsroom
27 September 2021, Pauktaw
The ongoing depreciation of the kyat has caused a price hike in the prawn market in Arakan State, according to prawn traders.
The price of prawns is higher than normal and the volume of prawn sales is lower because it is not currently prawn season, said prawn wholesalers in Pauktaw Township.
“As the dollar exchange rate against the Myanmar kyat continues increasing, the price of prawn is also rising. However, the yield of prawn is lower at the moment. We mainly export prawn to Yangon,” U Maung Than Tin, owner of the MTT prawn wholesale business in Pauktaw town, told DMG.
A viss of the largest prawn variety available was K27,000 in August, but is now about K33,000.
Despite fetching higher prices, prawn hunters are working against nature’s calendar.
“The season when they can catch a lot of prawn is in April. The volume of the catch of prawn this month is lower,” U Maung Than Tin said.
Ko Hla Shwe, a prawn dealer in Kyaukphyu Township, said: “The price of a viss of prawn has increased by about 3,000 kyats because of the increase in the dollar price.”
The dollar exchange rate before the military coup was about K1,300, but it clocked in at a record high of K2,235 on September 27.
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