The price of local onions has started to increase two months earlier than usual this year, according to Bayintnaung market reports.
On 20 July, onions were selling at prices ranging from Ks1,075 to Ks1,425 per viss (approximately 1.6 kilograms) depending on their quality in the Yangon wholesale market.
Onion prices increased since 20 July to Ks 1,300 per viss (1.6 kg). Currently, the price of onion has increased by Ks 25 per viss (1.6 kg) everyday.
“We are selling the onion with the increasing price. The price of onion tends to rise because many onion cropswere destroyed by the heavy rains,” said U Kyin Shwe, an onion trader.
In June, Yangon markets’ total onion volume was 3.9 million visses (one viss = 1.6kg). According to Bayintnaung depots’ official statistics, the daily onwion supply is currently 150,000 visses.
Onion imports are currently selling for Ks 1,000 per viss.
The Seikphyu onion sold at a price between Ks375 and Ks575 per viss as of 20 July 2016, compared to Ks505 and Ks808 per viss in 2015.