The prices of onion, garlic and potato hit new peaks at Bayintnaung Wholesale Commodity Centre, Yangon, in the post-Thadingyut holidays.
The price of onion rose to K2,200-3,400 per viss on 30 October from K1,700-K3,200 per viss on 26 October 2023.
Since 27 October, the prices of garlic have continued to rise. The Kyukok garlic fetched K9,500-K10,000 per viss on the morning of 30 October. Garlic from the Shan State area is priced around K8,700-9,800 per viss in the wholesale market. Similarly, the price of potatoes moved up to K2,700-2,750 per viss on 30 October.
The supply of kitchen crops decreased in the Bayintnaung market and the market was quite sluggish, the depot owners said.
India hiked up onion export tax so the price has risen in the onion-importing country Bangladesh. There is news spreading of India’s possible purchase of onions from Myanmar in the domestic market.
The market was slow-moving during the Thadingyut holidays. The prices in regions outside Yangon are also likely to go up, following the price rise in Yangon, traders pointed out.
Kyukok garlic and potatoes imported from China have already flowed into the domestic market and they are sent to the Yangon market via the Mandalay market. The prices are pretty high.
The onion prices reached a record high in history at K5,100 per viss in early December 2022. — TWA/KK
