High influx of onions brings down onion prices 

photo 2024 04 02 03 31 48

With an abundant supply of onions in the markets of Yangon and other regions, the prices are on a downward trend.
New summer onions are also flooding the markets. Those who keep the inventory are also waiting for the price decline.
A total of 333,600 visses of onions from various regions entered three main depots, with 105,000 visses to Pakokku depot, 148,600 to Myingyan and 80,000 to Seikphyu.
The prices moved in the range between K1,600 and K3,000 per viss depending on the producing areas, with 1.3 million viss of onions flowing into the Bayintnaung commodity wholesale centre between 28 March and 2 April.
Domestic onion cultivation covers about 100,000 acres, with a production rate of 600 million visses. The market saw high exports in 2022 and 2023.
Those traders who kept the stocks in hands reaped losses in late 2016, 2017, 2018, 2020 and 2021. They made a significant profit in 2015,2019, 2022 and 2023. The traders store the onions so that they can last longer. The prices are expected to reach K1,500 per viss.
The onion yield is K4,000-K6,000 viss per acre. The growers receive K6-K9 million per acre. Onion cultivation costs K3 million per acre. Therefore, they earn a handsome profit. — TWA/KK

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