Effect of Cyclone Mahasen: Yangon’s commodity prices up

The storm news has pushed commodity prices up as residents are buying up basic commodities such as rice and edible oil in Yangon, the former capital of Myanmar, according to the residents.

Myanmar’s Meteorology and Hydrology Department has labeled up Cyclone Mahasen in Bay of Bengal as ‘Red emergency’ as it is expected to hit the border area between Bangladesh and Northern Rakhine this afternoon.

“Reports say, ‘a storm is coming’. So we bought up the commodities such as rice, edible oil and salt as we’re concerned it would become like Nargis although the authorities did not list Yangon as a risk zone. During these days there were so many shoppers that caused the prices up,” said a female resident from Tamwe Township in Yangon.

Nargis was the name of a deadly tropical cyclone that hit Myanmar severely in May, 2008.
Most of the super markets in Yangon are also busy with many customers buying up commodities at the moment.

“When Nargis entered Myanmar, most of the people didn’t know what to do during a storm before and after. Now they prepared for it by buying up the commodities when they heard the news. They also bought necessary drugs as a preparation,” said a Yangon resident.

Source : http://www.elevenmyanmar.com/business/3503-effect-of-cyclone-mahasen-yangon-s-commodity-prices-up