CNI News
20 Dec 2022
As new onions are harvested, the prices of onions, which stood MMK 3,000 per viss recently, have dropped significantly and farmers may suffer losses if the prices continue to fall, farmers told the CNI.
Currently, onion prices dropped to MMK 1,500 or 1,600 per viss but the prices are likely to fall below MMK 1,000 per viss.
If the prices continue to fall below MMK 1,000 per viss, farmers are likely to suffer losses, U Khin Maung Htay, an onion farmer from Magway Region, told the CNI.
He said, "Onion prices have dropped. Farmers who are about to harvest the crop are complaining about the falling prices, which stand between MMK 1,500 and 1,600 per viss. If they do not sell the crop now, weights of onions will fall. And onions harvested in this season cannot be stored for a long time and weights will drop. As prices are likely to fall below MMK 1,000, farmers are likely to suffer losses. They had to buy one bag of triple superphosphate fertilizer at MMK 160,000 or 170,000. At the current onion prices, it is profitable for them. If the prices continue to fall below MMK 1,000 per viss, they will suffer losses. As the onions were grown from bulbs, farmers did not have to invest as much as growing from seedlings."
Onions in the market. (GETTY IMAGES)
Onion prices have fallen because Thailand has suspended importing onions from Myanmar and Vietnam does not import onions harvested in this season.
Moreover, onions are being harvested in various parts of the country, according to merchants.
Farmers are worried that onion prices continue to fall below MMK 1,000.
As some farmers are harvesting onions earlier than normal, the prices are likely to fall further, they have been urged not to do so, U Hla Thaung of Pakokku Merchants and Brokers Association told the CNI.
Onion farmers. (GETTY IMAGES)
He said, "The prices of old onions reached MMK 3,000 to 4,000 per viss and farmers grew more onions, which will be harvested later. Some onions have not been harvested. We are worried that farmers will harvest their crop earlier than normal. If they do so, the prices will fall further. Brokerage houses have told them that the prices will not drop below MMK 1,000 per viss."
Current onion prices are beneficial for farmers, merchants and consumers, according to merchants.
Most onions in the market recently are those harvested from Seikphyu, Ma Hlaing, Taungtha, Myingyan and Myittha and there are more onions to be harvested.
