Monsoon onion prices on downward trend

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Trucks loaded with monsoon onions entering Seikphyu’s commodity depot.

The prices of monsoon onions that are newly harvested have been on the downtick at the Bayintnaung Commodity Wholesale Market since 31 January 2024.
The high supply of onions surpassed demand, causing the prices to fall, Ko Thein Myint, a seller from Yetama Street, told The Global New Light of Myanmar (GNLM).
The Bayintnaung market saw an influx of 240,000 visses of onion on 29 January, 150,000 on 31 January and 210,000 on 1 February. The prices dipped to K800-K2,700 per viss depending on the producing areas (Myingyan, Seikphyu, Taungdwin and Myittha areas) and sizes.
The prices moved between K1,300 and K2,250 per viss on 1 February 2023.
The depot owners involved in Yangon’s market urged the traders to reduce the supply these days as around 200,000 visses of onions daily flow into the market. Nonetheless, the markets still witnessed the high inflows of onions. Housewives stressed that the retail price for large onions touched a high of K3,000 per viss at Nyaungpinlay market. — TWA/KK

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