Commodities and Futures News

Myanmar is now world’s largest source of opium, UN says

2023.12.11 23:57


© Reuters. FILE PHOTO: A dried poppy is seen in a field next to a mulberry farm in Tangyan township in Lashio District, northern Shan State, Myanmar, April 22, 2018. REUTERS/Ann Wang/File Photo

BANGKOK (Reuters) – Myanmar has become the world’s largest source of opium, thanks to domestic instability and a decline in cultivation in Afghanistan, the United Nations said in a report on Tuesday.

The 95% decline in opium cultivation in Afghanistan after a drug ban by the Taliban in 2022 has seen global supply shifted to Myanmar, where political, social and economic instability brought about by a 2021 coup drove many to poppy farming, the U.N. Office on Drugs and Crime (UNODC) report said.

Myanmar farmers now earn about 75% more from opium poppy farming, as average prices of the flower have reached about $355 per kilogram and the cultivation area has increased by 18% year on year, from 40,100 to 47,000 hectares, boosting the potential yield to its highest level since 2001, the UNODC said.

“The economic, security and governance disruption that followed the military takeover of February 2021 continue to drive farmers in remote areas towards opium to make a living,” UNODC Regional Representative Jeremy Douglas said.

Opium cultivation areas expanded most in Myanmar’s border regions in northern Shan State, followed by Chin and Kachin states, as yield expanded by 16% to 22.9 kilogrammes per hectare because of more sophisticated farming practices, UNODC report said.

The surge in fighting between the Myanmar military and armed ethnic-minority groups will most likely accelerate the expansion of opium cultivation, Douglas said.

The Myanmar junta did not respond to a Reuters request for comment.

The expansion of opium cultivation feeds into a growing illicit economy in Myanmar that include high levels of synthetic drug production and trafficking as well as other criminal enterprises from money laundering to online scam centres run by organised crime.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 102,334.42 0.61%
ethereum
Ethereum (ETH) $ 3,133.79 2.52%
xrp
XRP (XRP) $ 3.10 0.52%
tether
Tether (USDT) $ 0.999907 0.03%
solana
Solana (SOL) $ 231.44 3.77%
bnb
BNB (BNB) $ 677.94 0.52%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.327885 2.82%
cardano
Cardano (ADA) $ 0.944894 0.64%
staked-ether
Lido Staked Ether (STETH) $ 3,129.47 2.51%
tron
TRON (TRX) $ 0.24282 1.78%
chainlink
Chainlink (LINK) $ 23.28 4.68%
avalanche-2
Avalanche (AVAX) $ 33.10 3.44%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 101,955.32 0.82%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,730.39 2.40%
stellar
Stellar (XLM) $ 0.399004 2.75%
the-open-network
Toncoin (TON) $ 4.86 2.85%
hedera-hashgraph
Hedera (HBAR) $ 0.30542 4.60%
sui
Sui (SUI) $ 3.75 5.75%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 4.48%
weth
WETH (WETH) $ 3,132.22 2.52%
leo-token
LEO Token (LEO) $ 9.78 0.28%
polkadot
Polkadot (DOT) $ 5.80 3.55%
litecoin
Litecoin (LTC) $ 114.12 1.51%
bitget-token
Bitget Token (BGB) $ 6.97 1.95%
bitcoin-cash
Bitcoin Cash (BCH) $ 416.02 2.98%
hyperliquid
Hyperliquid (HYPE) $ 22.74 3.66%
uniswap
Uniswap (UNI) $ 11.71 4.03%
usds
USDS (USDS) $ 1.00 0.22%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,316.85 2.39%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.18%
official-trump
Official Trump (TRUMP) $ 27.34 7.67%
near
NEAR Protocol (NEAR) $ 4.41 5.24%
pepe
Pepe (PEPE) $ 0.000012 7.80%
aave
Aave (AAVE) $ 295.70 3.25%
mantra-dao
MANTRA (OM) $ 4.53 0.64%
ondo-finance
Ondo (ONDO) $ 1.39 3.15%
aptos
Aptos (APT) $ 7.39 3.98%
internet-computer
Internet Computer (ICP) $ 8.69 3.72%
monero
Monero (XMR) $ 223.40 2.84%
whitebit
WhiteBIT Coin (WBT) $ 28.42 0.63%
ethereum-classic
Ethereum Classic (ETC) $ 25.47 2.66%
bittensor
Bittensor (TAO) $ 462.48 2.80%
mantle
Mantle (MNT) $ 1.10 3.96%
dai
Dai (DAI) $ 0.999632 0.06%
crypto-com-chain
Cronos (CRO) $ 0.12922 2.25%
vechain
VeChain (VET) $ 0.043504 4.03%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.398381 4.16%
okb
OKB (OKB) $ 54.09 0.55%
kaspa
Kaspa (KAS) $ 0.122596 3.39%