December 15, 2016

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High demand on onions causes price rise

Onion farmers in upper Myanmar have earned high income from this year harvest as demand for the crop is high.
Onion farmers in upper Myanmar have earned high income from this year harvest as demand for the crop is high.

THE prices of onions have bounced back due to high demand following a month of decline.
Last month onion prices dropped from K525 to K375. Currently, onions are sold at prices ranging between K415 and K400 per viss (approximately 1.6 kilograms) depending on their quality.
The decline in price was due to the fact that supply exceeded demand in February. Earlier this month onion farmers said they found it difficult to sell their produce to border areas where supply was high as a result of onions coming in from various other sources. According to onion traders prices are starting to take off following a gradual surge in demand.
The cultivation of onions this year is reported to be 40 per cent less than last year, with a local onion grower fretting about its possible effect on future yield.
The price of onions peaked at K1,000 per viss last August as a direct consequence of high demand in foreign markets and low yields.

 

 

Union Daily

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