Onion prices rally to K2,000 per viss in Mandalay market

The prices of onions peaked at K2,000 per viss (a viss equals 1.6 kilogrammes) in the Mandalay market, according to onion traders.
An abundant supply of summer onions from Myingyan, Pakokku, Monywa and Meiktila is seen in the Mandalay market. The onion was priced at only K500 per viss in the corresponding period last year, whereas the wholesale price this year climbed to K2,000 per viss, said U Soe Win Myint, the owner of the Soe Win Myint commodity depot.
“The large quantity of summer onion is flowing into the Mandalay market. Furthermore, the price is moving upward trend. The yield increased and so did the price. There is a regular demand from foreign markets like Bangladesh in addition to local consumption. Traders also keep the onion stocks in their hands. Last year, the onion market collapsed and some growers even left the plantations unharvested due to a lack of demand. Thanks to price hike during the harvest time, the growers are financially doing well,” he explained.
Myanmar exports onions to external markets beyond self-sufficiency. The onions are commonly grown in Mandalay, Sagaing and Magway regions. It is cultivated near the riverbank with an irrigation system in the upper Myanmar region. — Min Htet Aung (Mandalay Sub-Printing House)/GNLM