Chilli pepper hoarders start business in time of low prices

At the end of March in the chilli pepper market when the prices of various kinds of pepper decreased, the demand of chilli pepper hoarders and those who will export abroad increased.
At the end of 2022, the wholesale price of refrigerated bell pepper rose to K31,000 per viss. However, the stocks from delta region and Sinphyukyun area were set at K13,000 and K12,000 per viss respectively on 25 March 2023.
The wholesale price of Hmyarni and Panye long chilli peppers were just K11,200 and K11,500 per viss on 25 March. Long chilli pepper from Vietnam fetched the wholesale price of K14,000 per viss. Moehtaung chilli peppers from Pyawbwe and Yayle Maubin areas cost K11,000-K11,500 per viss and K10,000-K10,500 per viss respectively.
This year’s new chilli pepper prices are one fold higher than last year’s new pepper prices. Even though the price is one fold higher, most of chilli pepper hoarders earned double the profit of the purchasing price at the time of resale.
Although the price of long Moehatung chili peppers was around K4,000/5,000 per viss at the beginning of 2022 and by mid-2022, they were sold at K15,000/20,000 per viss. Similarly, the purchase price of a viss of bell pepper was around at K8,000/9,000, but it fetched up to K31,000 when resold.
Nevertheless, chilli pepper hoarders started buying for storage, so new chilli pepper prices are less likely to fall further and will become the floor prices for this year’s chilli pepper season. — TWA/CT