Onion wholesale price slumps below K1,000 per viss in Yangon market on 30 March

The prices ranged between K850-950 per viss depending on producing areas (Monywa, Myingyan, Seikphyu and Pakokku). Yet, the popular onions from the Myittha area stayed higher at K1,500-2,100 per viss.
Approximately 5.4 million visses of onions from various regions entered the Yangon market. There are only seven days remaining before the long holidays of the Thingyan Festival.
Starting on 4 June 2022, the prices started to climb. In early December, the prices of onions from the Myittha and Myingyan areas touched a high of K4,400-5,100 per viss. The prices plunged to a ten-month low of below K1,000 per viss in the Yangon market, said traders who send the goods to regions outside Yangon.
On 31 March, the highest prices of onions were set at K925 per viss in the Yaw area, K825 per viss in NyaungU and K800 each in the Pale area. Onion prices were K500-1,125 per viss in the corresponding period last year.
The prices vary depending on the sizes and qualities. Last year, traders who kept the stocks in their hands made a great profit. So, they are preparing to store them this month. The prevailing price this year is slightly higher than that of last year although the prices of chilli pepper and rice traders doubled this year.
Onion cultivation in the producing countries might weigh on Myanmar’s onion market. Onion is priced at only K240 per viss in the world’s second-largest producing country India.
Erratic rainfall in India in late March did not affect the onions but grain, chickpeas, some fruits and vegetables. — TWA/EM