Commodity prices inflate in early 2023

Yangon markets saw a bumpy ride in prices of Shan garlic, onion, potato and palm oil on 6 January 2023.
The prices of garlic from Shan State (Aungban area) are set for new peaks on 6 January at K4,000-5,200 per viss, while the Kyukok garlic variety fetched K3,375-3,400 per viss.
The low inventory pushed up the price of Shan garlic, said a seller. The new garlic is likely to enter the market earlier than usual. Those are usually sundried in front of the warehouses in Yangon if there is moisture content.
About 180,000 visses of onions flowed into markets on 5 and 6 January yet the price is up by K100-200 per viss. Moreover, 100,000 visses of onions each from Myingyan and Myittha areas were supplied to the market that day. The onions stood at K1,800-2,400 per viss from the Myingyan area and K2,350-2,700 from the Myittha area on 6 January. The prices moved in the range between K1,700-2,600 per viss on 3 January. The price hit a high of K2,400 per viss at a Pakokku commodity depot with the supply of 60,000 visses of onions on 6 January. The onions were priced at K1,950-2,100 only with a bulk supply of 77,000 visses of onions on 3 January. Similarly, the highest price of onions was only K2,000 per viss with 94,440 visses of onions entering the Myingyan commodity depot on 3 January. The price increased slightly to K2,150 per viss on 4 January with a low supply of 30,000 visses of onions. Likewise, Myittha onions were valued at K2,350 per viss on 3 January and then rose to K2,500 per viss on 6 January.
The price of potatoes also climbed to low supply. Yangon market saw an entry of 18,000 visses on 3 January, 24,000 on 5 January and 36,000 on 6 January. The prices of potatoes from Shan State remained stable at K1,650-2,050 per viss and increased a bit on 6 January. New Chinese potatoes also increased to K2,100 viss on 6 January from K1,650-1,700 per viss, while old Chinese potatoes were priced at K2,400 per viss.
Moreover, the palm oil prices moved up to K5,600-5,620 per viss on 5 January. The wholesale price continued to rise at K6,100 per viss on 6 January, KO Aung, a seller at Nyaungpinlay market said. The figures showed an increase of K800 per viss in recent days.— TWA/EMM