Traders curtail chilli pepper prices amid sluggish market

With the chilli pepper market slow-moving, traders cut prices of chilli pepper when there is a deal, U Hla Han, a trader of Seinpan Street at Bayintnaung Commodity Centre told the Global New Light of Myanmar (GNLM).
The prices of long chilli peppers processed at cold storage were K13,500-14,500 per viss in the wholesale market at present. As the market is sluggish and the possibility of a price rise is extremely low, we have to reduce the price, U Hla Han stressed. The prices indicated a decrease of K1,000-2,000 per viss these days depending on different varieties.
Chinese bell peppers flowed into Yangon’s market at K17,500 per viss in the last week of October. Then, the price increased to K18,000 per viss and was back in decline at K17,000-17,500 per viss.
Sinphyukyun bell pepper processed in cold storage fetched K19,000-22,000 per viss at present. The prevailing price plummeted from K31,000 per viss recorded on 17 November 2022. Despite the rocking kitchen grocery prices, the prices of various chilli peppers are still on the low side this year. Especially, the bell pepper price in November 2023 was down by around K10,000 per viss compared to that of last year.
Thus, traders who keep the huge stocks in their hands are forced to reduce the price in the market. — TWA/KK