Onion price falls by over K200-K300 per viss

20200229 sskm
The price of onion has decreased by over K200-K300 per viss depending on the variety and size of the onion, according to the onion market.

The price of onion has decreased by over K200-K300 per viss depending on the variety and size of the onion, according to the onion market.
Last October, the onion, an essential staple crop, the price was ranged between K950-K1,100 per viss in the local market as Bangladesh already bought Myanmar onions. However, the prices dropped to K600-K780 per viss on 12 November because onion merchants cannot export them to China due to the COVID-19 outbreak.
Although China purchased the onion from Myanmar in the previous years, this year the price has been falling due to the closure of the Sino-Myanmar border checkpoints during the COVID-19 period.
Besides, the quality restrictions on onion exports were one of the reasons for the declining price of onion.
The onion commodity prices have been falling from March to August this year until farmers lost their plantation costs, according to the local traders.
However, the onion which is domestically consumed and exported largest volume to foreign markets may fluctuate depending on the market demand.
The onion traders predict that Myanmar’s onion market is likely to be good as it will have export to neighbouring countries such as Bangladesh, Viet Nam and Thailand via border routes. Those neighbouring countries usually import onions from India. Now, India has suspended exports of onions to the countries because their onion plantations were destroyed by heavy rain. — NN/GNLM

Share this post
Hot News
Hot News