January 03, 2023
Onion prices continued downward trends in early 2023 amid bulk supply, Ko Aung Win, a buyer at Bayintnaung Wholesale Market, told the Global New Light of Myanmar (GNLM).
On 2 January 2023, 210,000 visses of onions from various regions flowed to Bayintnaung Wholesale Market. The prices of onion stood at K1,700-2,300 per viss from the Myingyan area and K2,000-2,600 from the Myittha area. Approximately 3.5 million visses of onions from various regions entered the Yangon markets in December, as per the daily market report.
Additionally, about five million visses of monsoon onions were supplied to Myingyan and Pakokku areas which are the main onion hub in December.
The prices decreased from K3,500 in early December 2022 to K1,950-2,100 per viss on 2 January 2023 in the regions outside Yangon.
The prices of newly harvested monsoon onions dropped by half owing to the large supply from the main producing areas (Myingyan and Myittha) to Yangon Region. New monsoon onions from Taungdwingyi, Minbu, Minhla, Thayet, Sinbyukyun and Yenangyoung areas abundantly flowed into the markets.
At present, there is a match between supply and demand in the domestic market when there is a lack of foreign demand. In 2022, the onion prices declined to K350-775 per viss in March and K500-875 in April and K525-850 in May respectively when summer and winter onions entered the market. —TWA/EMM