CNI News

19 Nov 2022

Although onion prices usually fall during new harvests, the supply to onion exchange has been low and prices have not fallen, according to onion commodity exchange.

So far, only a few thousand visses of onions arrived at the commodity exchange and it is likely that onions are likely to come into the market at the end of this months and prices are likely to fall, Chairman U Khin Han of the Myanmar Onion, Garlic and Vegetables Producer and Sellers Association told the CNI.

Onions transported for domestic consumption.

He said, " Only a few thousand vissses of onions entered the Yangon market recently. However, the crop entered the market by hundreds of thousands of visses in cultivating regions. The prices of monsoon onions stand between MMK 2,400 and 2,500 and fall to between MMK 2,500 and 1,500 depending to the supply."

Although the prices of the newly harvested onions is estimated to be between MMK 900 and 1,000, current prices stand between MMK 1,500 and 2,500.

Onion bags in the domestic market.

The newly harvested onions are not entering the market as a large number of onion fields had been bought by companies from Myawady to export the crop to Thialand and Vietnam, Onion Merchant U Hla Thaung of Pakokku told the CNI.

He said, "As they have bought fields and fields of onions at MMK 2,500 or 2,700 per viss of onions in Meiktia and Myithhar, the crops did not enter into the local market and onions went to the countries."

Moveocer, onion fields were damaged by storms and draughts and onion yields dropped, according to farmers.