Prices are falling, but sales is also falling

Thiri Mingalar wholesale marketThe following is the translation from the Popular Myanmar Journal published weekly.

“Thiri Mingalar market is one of the major markets in Yangon (Rangoon). Situated on the bank of Rangoon River (Hlaing River), it is one of the most important markets in Yangon where the wholesales are done for the fresh fish, vegetables, fruits and flowers as well as various goods. Most of the goods coming into Yangon by river boats from all regions of Myanmar pass through this market. It is considered one of the most important wholesale markets in Yangon.

Now, the prices are falling in Thiri Mingalar wholesale market. Good news for the customers, because they can now buy more goods. Good news for the sellers too, as they will be able to sell more. However, the reality is different from theory. Although the prices of goods are falling, sales is also falling. Everybody has been expecting the sales to be rising due to falling prices, but the shop wholesalers are surprised to see their sales falling as well as their profit margin. One of the wholesalers said “Prices are falling as well as sales volume is also very low. We cannot expect to get any profit. We have to struggle just not to lose. Instead of aiming to make profit, we have to try hard to be able to sell all our stocks before they expired”. The wholesaler thinks the reason for the falling prices is the fall in the petrol price in recent weeks.”

However, the journal article does not explain the reason for falling sales in this wholesale market.

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