Yangon and regional markets see little change in onion price

From the middle to the end of the year 2022, the prices of onions in the domestic onion market rose sharply. However, the wholesale price of onion in mid-2023 have stood around K2,000 per viss, with little change in Yangon and regional markets, according to buyers and the Yangon onion brokerage houses.
About 78,000 visses of onion from various regions entered the Yangon market on 28 June 2023, at a price of K1,800 per viss for Seikphyu onions and K1,850 per viss for Monywa onions. In regional markets, the highest price of onion per viss was over K2,000 in the previous days, but on 28 June, it was only around K1,950.
It is known that the price of onion has not increased significantly, even in the days when the supply was less than 100,000 visses in the Yangon market. In early May 2023, the price of large-sized onions increased to K2,300 per viss, but it has not returned to this price until around the end of June.
Based on their experiences, most of the onion growers are waiting for the time when the price will go up this year and are selling inventory of onions based on the daily market price in regional markets. If the opening price of onions at the regional market decreases, prices of onions fell again.
Onion prices rose to record highs in the last months of 2015, 2019, and 2022. As it was in 2022, the newly-harvested monsoon onion may be cultivated earlier than usual this year.
Therefore, U Myint Swe, a buyer, told the GNLM that there is still time to predict whether onion prices will hit a record high this year, as happened in early December 2022.
These days, the prices of potatoes and onions are almost the same, but the price of Shan garlic is four times higher than the price of onions, said Ko Htut, a dealer, to the GNLM. — TWA/CT

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