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May 21, 2019

Onion prices decrease slightly from its peak in wholesale market

The prices of imported onion decreased to K2,100 from its peak of K2,200 per viss (3.6 pounds) in the wholesale market in Yangon Region, said Zaw Tun, onion merchant.
In wholesale market, the prices of imported onion were below K1,200 per viss since mid-2018. Beginning in the second week of this February, the onion prices went above K1,200 per viss. A single viss of onion was sold for K1,500 on 4 March. The prices increased to K2,200 on 8 March. The market saw a slight decrease in value of imported onion to K2,100 per viss on 12 March, he continued.
Zaw Tun said this was linked to the increase in flow of locally harvested bid-sized onion into the market.
The wholesale prices of newly harvested imported onion on 9 March 2017 was between K5,700-K5,800 per viss, while the old crop of onion was sold for K6,500-K6,700 per viss. Compared to that of 2017, the prices of newly harvested imported onion decreased to K1,450 per viss on 9 June 2018.
Myanmar exports domestically produced onions, especially to China and Thailand. It imposts the same crop, mainly from China and India.

 

—Maung Se Aung
(Translated by Khaing Thanda Lwin)

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