There has been a hike in prices of building materials as flood has disrupted supply and production, according to building materials traders.
“As sand and gravel are acquired from rivers, there have been difficulties in production because of flood and that caused a rise in prices,” said Ko Than Aung, owner of Than Tun Aung wholesale construction material shop.
The increase in price began in the second week of August, he added.
According to those in the Yangon construction material market, the price of gravel per 100 cubic feet has increased from K650,000 to K720,000, the price of coarse sand per 100 cubic feet went up from K130,000 to K150,000 and the price of fine sand per 100 cubic feet rose from K10,000 to K12,000.
Sand for construction is mainly acquired from Thilawa seaside and gravel is ordered from A Pyauk township and Upper Myanmar.
Ko Than Aung told Myanmar Business Today, “The prices of sand and gravel increased first. The price of cement is still flat. Countrywide flooding is the main cause but it could be predicted that the prices will be stable again within a short while.”
Moreover, the price of brick has also been shooting up because of break in production due to heavy rain, from K118 to K125 per piece.
“Some of the homeowners in Mrauk-U have started renovations but as the prices of construction materials are rising, many are choosing to stay at monasteries and relief centres. The government should control the prices,” said Ko Maung Chay, a resident of Mrauk-U.
Source: Myanmar Business Today