Onion price hits K 4,000 per viss in local markets

A local onion depot in Yangon. Photo: Phoe Khwar
A local onion depot in Yangon. Photo: Phoe Khwar

Due to high demand from Bangladesh, the price of onions has increased four-fold in local markets to reach K 4,000 per viss. (1 Viss = 1.63 kg)
Previously, the price of onions was only K 750 to K 1,000 per viss in the local market. Now, the price of onions has increased to K 3,500 to K 4,000 per viss.
“Bangladesh usually imports onions from India. Now, India has suspended exports of onions to Bangladesh. So, Bangladesh is importing onions from Myanmar. Myanmar exported over 1,000 tons of onions to Bangladesh beginning in October,” said a local trader at the Bayintnaung Onion Wholesale Depot. “The price of onions has been unstable during the last few days, because the Bangladesh government controls them. Now, they are not purchasing as many onions,” he added.
Onion prices on the local market was more than K1,000 per viss in the first week of October, K2,400 per viss at the end of October and K4,000 per viss in November. India suspended the export of onions until February, 2020, because the production of onions is on the decline in India due to constant rainfall. Therefore, Bangladesh and Sri Lanka imported onions from Myanmar, Egypt, Turkey and China.
At present, the price of onions is K 3,000 per viss in the wholesale market.—Aye Cho (Translated by Hay Mar)

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