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Myanmar exports onions worth $3.56 mln to Bangladesh in Oct-Feb

Myanmar’s onions are primarily shipped to markets in China and Bangladesh. Photo: Thant Zin
Myanmar’s onions are primarily shipped to markets in China and Bangladesh. Photo: Thant Zin

Myanmar exported more than 5,700 tons of onions, worth US$3.56 million, to neighbouring Bangladesh through the Maungtaw border gate in the past five months of the current financial year, according to news released online by the Ministry of Commerce.
“At present, onion prices have plunged to K1500 per viss (one viss equals 1.6 kg) on account of newly harvested onions entering the market. In mid-February, one viss of onions fetched about K1,300. said a trader.
In the 2019-2020 financial year, Myanmar’s exports onion to Bangladesh through Maungtaw gate stood at 1,175 tons, with an estimated value of $69,660, in October; 1,074 tons, worth $1,13,000, in November; 761 tons, worth $1.02 million, in December; 1,102 tons, worth $1.03 million in January; and 1,613 tons, worth $1.33 million, in February.
Between 1 October 2019 and 21 February 2020, the cross-border trade between Myanmar and Bangladesh crossed $7 million from $3.39 million in the same period of lest FY, data from the Commerce Ministry showed.
Last year, demand from Bangladesh and the local market had lifted onion prices above K3,000 per viss, according to the Mandalay commodity depot.
Myanmar’s onions are primarily shipped to markets in China and Bangladesh.
“We cannot export onions to China due to COVID-19. The demand from Bangladesh has nearly halted. Also, when supply exceeds demand, prices plunge. Summer onions have been freshly harvested in Mandalay, Sagaing, and Magway regions,” said U Win Myint from the Shwemanhla onion depot.
Myanmar’s onion exports to China through Muse were registered at 19,417 tons, worth $7.797 million, in the 2017-2018 financial year, 28,659 tons, worth $8.468 million, in the mini-budget period (April to September, 2018) and over 69,180 tons, worth $15 million, in the 2018-2019FY, as per data released by the Trade Department at the Muse 105th mile trade zone. —Thant Zin/ Myint Maung (Translated by Ei Myat Mon)

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