Bayintnaung wholesale market sees supply of 6,000 visses of Shan potato, 102,000 visses of Chinese onion

On 24 November 2022, 6,000 visses of potato from Shan State (Aungban area) and 102,000 visses of Chinese onions entered the Yangon markets, pushing the price to continue further decline, Ko Thein Myint, a trader on Yetama Street, told the Global New Light of Myanmar. (GNLM).
On 23 November, 114,000 visses of Chinese potatoes and 6,000 visses of Shan potatoes entered the market. Large volumes of Chinese potatoes are daily flowing into Yangon markets, while only small volumes of potatoes from Shan State are seen in the market. The opening price of Shan potatoes was not set on the two days (9 and 12 November). On 15 and 16 November, Chinese potatoes were priced at K2,500-2,550 per viss.
Both old and new Chinese potatoes are entering the Yangon market. On 18 November, new ones were supplied to the market at K1,900 per viss.
On 23 November, the market witnessed six truckloads of new Chinese potatoes, 13 truckloads of old Chinese potatoes on 23 November and nine truckloads of new ones and eight truckloads of old ones on 24 November, according to the entry data of the market.
The prices stood at K1,600 per viss of old Chinese potatoes, K2,100 for new ones and K1,800-2,150 for Shan potatoes on 24 November.
New Chinese potatoes are less popular in the market due to their peel. The local potato prices increased from K1,400-1,700 on 4 November to K1,900-2,150 per viss on 15 November.
The prevailing price of Shan potatoes decline to K1,800-2,150 per viss on 24 November following the price decrease in Chinese potatoes and excess supply.
The potatoes from the Loikaw area are expected to enter the market in December and January. Those from the Sinphyukyun area are normally supplied to the markets between the beginning of the year and the second week of April. Although local potato output this year dropped, the price did not reach a record high like onions owing to the excess supply of Chinese onions.
The local onions peaked at the end of 2022 on the back of strong demand. The price of onions from the Myingyan area touched a high of K4,800 per viss after 20 November 2022.
It broke a record price of K3,700. As potatoes are solely relying on the domestic market without foreign demand, the price rise is improbable.
Those traders who keep onion stocks in hand reaped a profit of K2,000 per viss and over K10 million for 10,000 visses. Nonetheless, there is a possibility that the local onions have to share the market with imported onions like potatoes, said a market observer. — TWA/GNLM