The disruption of banking and transportation services as a result of mass protests in the country has led to the suspension of Myanmar’s agriculture exports.

This has brought about a drop of prices by 10 percent, said the Mandalay Brokerage House.

The Mandalay Brokerage House caters to three markets – exports to China, exports via Yangon and the domestic market.

Vice-chair of the brokerage house U Chun said the suspension of banking services due to the country’s recent political unrest has led to difficulties in trade with China and India.

As such, prices of commodities have dropped by 10 pc compared to the end of January, he said.

“There are only a few transactions as banks are closed and we cannot transfer money. There is also no traffic at the borders. There is no demand for exports at the moment and there is no border trade,” he said.

“The business will only return when the country is stable and when the banks reopen,” he added.

The vice-chair went on to point out that the local market still sees trade as per usual.

“Some speculators with surplus in cash are hoarding goods but the local consumer market is still running,” he said.

Ref: Myanmar Times