Onion prices drop by half in Muse market in early April

5 May


THE selling price of onions re-duced by half to K367,200 per ton in early April from K734,400 in the year-ago period, according to traders at the Muse 105th mile trade zone.


Between 1 and 5 April, My-anmar exported 297 tons of onion to China from the Muse 105th mile trade zone and earned US$0.512 million. As on 31 March in the cur-rent 2018-2019FY, the country’s onion exports to neighbouring China stood at 16,665 tons, worth about $3.2 million.


At present, the selling price of onions stands at K367,200 per ton in the Muse market, while the buying price is pegged at K612,000.


Last year, a ton of onions was priced at K550,800 in April, K612,000 in May, K918,000 in June, K1.224 million in July, K1.346 mil-lion in August, and K1.53 million in September.


Merchants  said  onion  pric-es are normally high at the end of  the  harvest  season.  Farmers  have been urged to store onions and export them when prices are high to enjoy greater benefits.—Khine  Khant    (Translated  by  Khaing Thanda Lwin)