Onion price heads for two-day high

High prices of onions were extended for two days (25 and 26 October) on the back of strong demand by border markets. The onions hit an all-time highest of K4,300 per viss (a viss equals 1.6 kilogrammes) in the wholesale market.
The large onions reached a record price of K3,700 per viss in early December 2015. Afterwards, Bangladesh’s demand pushed up onion prices in 2019. However, the price does not increase higher than that.
However, the decrease in onion outputs and low supply to border markets raised the prices to K3,800 in 2022. Then, the price dipped to K3,400 per viss and regained to K4,000 per viss. On 26 October, the price hit a fresh new peak of K4,300 per viss.
On 25 October, 180,000 visses of onions from various regions entered the Yangon market, making the price up by K200 per viss. Although 100,000 visses of onion supply to Yangon markets on 26 October, the price went up to K3,200-4,000 per viss from the Seikphyu area and K3,500-4,300 from the Myingyan area.
The rise in local onion prices resulted in high demand for Chinese onions at the Bayintnaung wholesale market, said Ko Yee Tun, a seller from Nyaungpinlay wholesale market.
Similarly, Chinese onions also increased from K1,800 per viss on 25 October to K2,200 on 26 October. The buyers of kitchen groceries from hotels and restaurants are commonly seen at Thanzay, Lanmadaw Township. When the local onion of large size fetched up to K4,000 per viss, Chinese onions were highly demanded in the markets in recent days. Thus, the retailers from Thanzay purchase more Chinese onions at the Nyaungpinlay wholesale market, Ko Yee Tun, told the Global New Light of Myanmar (GNLM). – TWA/GNLM

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