Chilli pepper prices slump after second-time hike

LOCAL NEWS

The prices of chilli pepper hit a record high of K19,000-19,500 per viss in the wholesale market in Yangon city for the first time on 8 August and the second time on 16 September 2022. Yet, the sluggish market leads the price to slide at the present time.
On 1 September, the chilli pepper price fell to K13,500-14,000 per viss. Then, the price rebounded on 3 September and peaked at K19,000-19,500 a viss for the second time on 16 September.
Chilli pepper prices slightly decreased to K17,000-18,500 per viss depending on producing areas and different varieties (Moehtaung, long red chilli (Panye) and green chilli), whereas the bell pepper is sold at K18,000-18,300 per viss, Ko Hla Han, a seller of chilli pepper and tamarind on Seinpan Street said.
There are two times chilli pepper prices were volatile in the rainy season when trade is rather slack. Consumers can decrease their consumption of chilli pepper when the price rockets. The demand naturally drops when the price has risen. Consequently, the price will slide later.
The wholesale prices of chilli pepper were K4,000 per viss on average each in the same corresponding period of the years 2020 and 2021. In 2020, Indian long chilli pepper flowed into the domestic market. The price of imported chilli peppers was however higher than the local ones with K5,500 per viss in September 2020.
After 2020, Myanmar successfully cultivated chilli pepper of India’s origin. Thus, there is no import despite the price rise in the domestic market. – TWA/GNLM

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