Flood of Northern Opium Cuts Prices Down

Flood of Northern Opium Cuts Prices Down

Maihoong reported from southern Shan State this morning that the price of raw opium along the border had gone down during the last week due to the oversupply coming from the north.

Maihoong said, "It was B.24,000 per viss (1.6 kilogram) towards the end of December. It then went up as high as B.26,000. But during the last week, the drug markets in Hoyawd (Monghsat Township) and Nakawngmu (Mongton township) were flooded by opium from Wa areas and even Monghsu in the north. As a result, the price has plunged down to B.21,000."

"Even so, there are still many traders from the north who were waiting, some for delayed payment, and others in expectation of price upsurge," he added.

A girl, who makes a living by selling vermicelli, told Maihoong, "These people love to spend. I have already made K. 150,000 during the last two weeks, a sum I have never dreamt of having by selling Khaosen (vermicelli)." 

"Hoyawd is under Wa control and Nakawngmu is under Lahu militia control, and both with the consent of the Burmese military", concluded Maihoong.