Traders prepare to buy chilli peppers when price declines

There is a roaring trade of chilli peppers in Yangon’s market this month, said U Hla Han, a trader of chilli peppers on Seinpan Street in the Bayintnaung area.
The prices are on the low side in early March. The long chilli pepper prices dipped to K7,500-K9,000 per viss on 4 March. The chilli pepper from the Moehtaung variety decreased to K10,000 per viss. The bell pepper from the Sinphyukyun area was worth K13,500 per viss.
The traders received a significant profit in 2022, yet they suffered losses in 2023. The price is likely to drop further in 2024. Therefore, traders prepared to buy them in large quantities. The cold storage facility charges K125 per viss. It is profitable when the price rises. Strong demand from traders also raised the prices as well.
The profit tripled in 2022 as the price of chilli pepper processed in cold storage hit K21,000-K22,000 per viss, and the bell pepper price peaked at K31,000 per viss in late 2022. — TWA/KK

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