Excess supply cuts onion market price

The prices of onions tended to shrink with the bulk supply of 250,000 visses of onions on 4 March.
The prices fell to K1,800-3,700 on 4 March. Yangon market saw a high influx of 500,000 visses of onion on 1 and 4 March. A high inflow of onions from various regions cut the prices in late February when there is a regular demand, an onion trader told the Global New Light of Myanmar.
The price is down by K100-300 per viss. The highest prices in the Seikphyu area were K2,350 per viss on 1 March from K2,650 on 27 February, with 70,000 viss of onions being supplied to the market. The Myingyan market witnessed a supply of 30,000 visses of onions on 4 March, and the price hit the highest point of K2,600 per viss, which decreased from K3,100 per viss on 28 February. The onion price hit the highest in February 2024, whereas it peaked in mid-2023.
During the harvest season of summer onion, the onion in regions outside Yangon is expected to fetch around K2,000 per viss,” said U Aung. — TWA/KK

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