For weeks now, the closure of the Strait of Hormuz has been destabilising global trade. The fluctuating commodity prices are being felt worldwide – including in our partner countries.
According to official government figures, fuel prices in Myanmar have already doubled compared to the period before the war in Iran. In the North of the country, such as in Kachin State where the Myanmar SWISSAID office is located, prices are even higher: fuel is up to 300% more expensive than in Yangon in the south. Everyday consumer goods and food items are affected as well; the rising costs have made them even harder to access.
‘In Tanzania, the cost of living continues to increase due to rising inflation and recent fuel price adjustments,’ reports Betty Malaki, Country Representative of SWISSAID Tanzania. By April, the price of petrol already saw a mark-up of 33.4 per cent – a trend that has continued into May. At the market, the prices for maize, beans and rice have risen by 50 per cent. Since the start of the crisis, the price of a kilogram of beef has risen from 9,000 to 12,000 Tanzania shillings; that of an egg from 300 to 400 shillings.
These same trends are evident in Chad, where the price of a litre of fuel and engine oil had already doubled in April in the provinces. Unsurprisingly, food has become less affordable. The SWISSAID team in Chad has observed that the price of a kilo of meat has now doubled, whilst the price of a litre of oil has risen by 50%, as has that of a packet of sugar.
In India, meanwhile, a shortage of cooking gas is causing problems for households, restaurants and street vendors. Some smaller businesses have already temporarily reduced their operations or ceased them altogether.
In the rural areas where SWISSAID operates, supply shortages and price hikes are particularly noticeable. Due to higher fuel prices, some transport companies have suspended their services or raised their fares. Around Kolkata, tickets have risen by 67%, shares SWISSAID India. Many local farmers can no longer afford to travel to the markets as often, facing significant losses to their income.
