The price of upward chilli, currently on a falling trend, may recover in the coming month, according to the market.
The price is falling due to transportation issues and low local consumption, but it is predicted to go up in April, say the reports.
“The rise and fall of the chilli market is not stable. The price may plunge sharply in one day. And the next day it may be strong again. We can’t say for sure. I think that the local consumption of chilli has slightly gone down because of the blockage of routes and supply channels. There are many varieties of chilli. If one variety falls, others usually go down. The same goes true if one goes up, all the others follow. But, rising and falling rates are different. Now, 692 long chilli/upward chilli is in the downward trend. We predict it to recover near the Thingyan. The price of chilli is different from day to day- today’s price is just for today and tomorrow it will be different,” said an official from Aung Myittar Chilli Wholesaler in Wundwin township.
With the transportation routes soon to be improved, the number of buyers is expected to increase, she said.
“My sales channels to Lashio and Myitkyina are frequently off and on. If they are on, sales are good. Not that there are no sales at all. There is some trade now. If the routes are open, we are busy with many orders. The market is continuously running,” said a person from Aye Moe Myint Chilli Trading in Mandalay.
The current prices per viss at the Mandalay wholesale market are K 9500 for plus1 (without stalk), K 7800 for plus1 (with stalk), K 10500 for pan (without stalk) and K 9000 for pan (with stalk), with prices varying depending on the variety.
Thit Taw/ZN
