Bell pepper price sees drastic decline within one month

The price of bell pepper from Sinphyukyun area drastically dropped within one month. They entered Yangon wholesale market at K29,000 per viss (a viss equals 1.6 kilogrammes) on 29 November and then, the price fell to K13,000 per viss on 24 December, Ko Hla Han, a chilli pepper depot owner at Bayintnaung Wholesale Market, told the Global New Light of Myanmar (GNLM).
The price gradually decreased from K26,000-K28,000 per viss on 10 December to K13,000 on 24 December.
The price of bell pepper processed in cold storage reached a record high of K31,000 per viss in Yangon market prior to the supply of new bell peppers from Sinphyukyun area. Market volatility with fresh supply is a natural occurrence in the market, Ko Khin Htwe, who sends chilli pepper to countryside outside Yangon, shared his opinion on the market with the GNLM in an interview. It is also the time when traders are filling inventory.
The prices moved in the range between K12,500 and K13,000 per viss depending on the producing areas. Yangon market sees an entry of Chinese bell peppers through Thailand border areas.
The prices of new chilli pepper stood at K12,500 per viss for Moehtaung variety, K18,000 for red long chilli pepper, K14,000 for long chilli pepper from Shan State and K16,000 for Panye long chilli pepper.
There are small stocks of old long chilli peppers worth K20,000 in the market yet the market is slow moving. Normally, chilli pepper prices (Moehtaung variety and long ones) are priced at K3,000-K4,000 per viss, while bell peppers are worth K5,000 per viss. At present, the price of bell peppers is relatively low compared to those of the long chilli pepper, said a trader.
The price of the chilli pepper from delta region was only K4,000 per viss in summer 2022. However, the traders kept them in their hands and stored them in cold storage. They are resold at K20,000 per viss after six-month storage. After deducting the warehouse cost of K500 per viss, traders make profit of K15,000 per viss. The traders made handsome profit this year amid the record prices.—TWA/EMM