Despite the supply of over 100,000 visses of onions from various regions to the Bayintnaung Wholesale Centre on 18 April, the market prices remain unchanged at K1,600-K3,000 per viss, traders said.
The figures showed the flat rate of the pre-and-post- Thingyan deals.
Prior to the Thingyan holidays (on 12 April), 30,000 visses of onions flowed into some warehouses in the Bayintnaung area. Additionally, 360,000 visses of onions on 8 April, 240,000 on 9 April, 120,000 on 10 April and 30,000 on 11 April entered the Bayintnaung Wholesale Centre, respectively.
The onion-producing areas increased supply to Yangon’s market in early April. As summer onions fetched a good price in early 2024, the majority of the growers harvested them.
The wage at the harvest time was equivalent to the value of seven visses of onions in the previous years.
It is worth only five-viss onion market rate upon higher price this year, Ko Khin Maung Myint, an onion grower from Nyaungpintha village, Pale Township, told The Global New Light of Myanmar (GNLM).
Production per acre costs K3 million while the yield per acre is estimated at 4,000- 6,000 visses.
This year, summer onion growers are expected to earn greater profits compared with those of the previous years, he added.
The new monsoon onions were valued at K3,000 per viss in late 2023 and 2,000 in early January 2024. — TWA/KK
