Myanmar Junta Detains 11, Including Japanese, Over Rice Price Rise

Myanmar's military junta has intensified its crackdown on economic activities by arresting 11 individuals, including a Japanese national, accused of inflating rice prices amidst the country's economic turmoil. According to the Global New Light of Myanmar newspaper, the arrests targeted rice traders, officials from rice mills, and executives from supermarket chains. These individuals allegedly increased rice prices by 31% to 70% above prescribed levels.

The Japanese government confirmed that a Japanese national, employed in Myanmar's commercial hub Yangon, is among those detained. Japanese Chief Cabinet Secretary Yoshimasa Hayashi stated that Japan is in contact with the individual's employer and is seeking his prompt release from Myanmar authorities.

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Among those arrested is an executive from Aeon Orange, a supermarket chain jointly operated by Japan's Aeon Co. and Myanmar's Creation Myanmar. The junta, which seized power in February 2021, has faced ongoing resistance and protests since then, leading to a deepening economic crisis exacerbated by violence, poverty, and currency depreciation.

The recent arrests follow a broader crackdown by the junta targeting gold and foreign exchange traders, as well as agents involved in selling foreign real estate. These measures are part of the junta's efforts to stabilize Myanmar's currency, which has sharply depreciated amidst the ongoing political and economic instability.

The turmoil in Myanmar has led to severe humanitarian challenges, with widespread poverty and a deteriorating business environment complicating efforts to stabilize the economy. The international community continues to monitor the situation closely, expressing concerns over human rights abuses and the junta's authoritarian rule.

July 1, 2024 11:24 a.m. 380

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