Bangkok Post – Burma junta arrests 11, including Japanese citizen, for inflating rice prices

Four executives of a supermarket chain in Myanmar, including an official from a Japanese joint venture, were arrested for selling rice at inflated prices, state media reported on Monday, as the junta ruling the war-torn country struggles to stabilise its spiralling economy.

Authorities announced the arrest of 11 people, including rice traders and officials from rice mills and retail stores selling rice, accusing them of inflating prices by 31% to 70% over established levels, according to Burma’s Global New Light Newspaper.

In Tokyo, Japan’s Chief Cabinet Secretary Yoshimasa Hayashi told reporters that a Japanese national was being questioned by police in Myanmar’s commercial capital, Yangon.

“The Japanese government will continue to take appropriate measures, including maintaining contact with the company where the Japanese national works and offering the necessary support, while calling on local authorities to release him early,” he said.

The junta-run Myanmar Daily said those arrested included an executive from the Aeon Orange supermarket chain, a joint venture between Japan’s Aeon Co and Yangon-based Creation Myanmar. A junta spokesman did not respond to a call seeking comment.

The impoverished Southeast Asian country has been in chaos since a coup in February 2021, when the military overthrew the elected civilian government, triggering widespread protests that turned into a nationwide armed resistance.

According to the World Bank, amid escalating violence, poverty in Myanmar is more widespread than at any time in the past six years, while labor shortages and currency depreciation are making it harder to do business.

The junta arrested at least 35 people last month in a crackdown on gold and currency traders and agents selling foreign properties as part of a move to stabilize a rapidly depreciating currency.