Onion price plummets to K900 per viss in Yangon market

The prices of new monsoon onion indicated a significant fall of K3,000 per viss within the two months in Yangon markets, which accounts for a 75-per-cent drop.
The daily onion supply to the Yangon market from various regions is estimated at 200,000 viss. However, the market is relying on the demand of Yangonites and local communities from delta regions. That being so, the price is moving down, the onion depots stated.
Last week, the onion supply accumulated 1.28 million visses in six days. This week, the volume was around K1.2 million viss, as per data of Yangon warehouses.
The prices of onion stood at K1,000-1,300 per viss depending on producing areas (Seikphyu, Myingyan, Myittha and Taungdwin)
From 8 December 2022, the onion price fell below K1,000, Ko Thein Myint told the Global New Light of Myanmar (GNLM).
The prices usually vary in size and quality. Large ones fetch a higher price in onion, garlic and potato prices.
When the onion prices rocket, the housewives use small ones to reduce the food cost. The large-sized onions are abundantly flowing into the Yangon market at present.
On 8 December 2022, the new monsoon onion prices touched the highest of K4,400-4,800 per viss. After two months, the price plunged to K900 per viss in the wholesale market.
Those growers who cultivated monsoon onions earlier than usual reaped a handsome profit this year.
The prices of onions were K600-1,000 per viss on 2 June 2022. The prices hit a record high of K5,100 per viss on 2 December.
A market observer pointed out that the market witnessed a price spike after six months and a steep plunge over two months. — TWA/EM