CNI News

10 June 2023

Local onion merchants, businesspeople and business associations are collaboratively planning to export Myanma onion to the Philippines directly, said onion merchants.

Myanma onion is being currently exported to the Philippines through Vietnam merchants and so Myanmar merchants and businesspeople are planning to export the onion the Philippines directly. For the time being, Vietnam merchants have been increasingly buying the onion in Myanmar, said U Aung Myint, an onion merchant from Myingyan, to CNI.

a worker carrying bags of onion on his shoulders

"Myanma onion is being exported to the Philippines through Vietnam traders, but this year the traders here are trying to export directly. Last year, onion prices skyrocketed in the Philippines. We knew about it later. We knew later that Vietnam traders were exporting Myanma onion to the Philippines. That's why traders here are discussing about exporting the onion to the philippines directly. Vietnam traders have been buying the onion here in a large scale since last year. In fact, they were exporting to the Philippines. They bought onion with 25 big trucks from Myingyan alone" he said.

At present, Chinese, Thai and Vietnamese traders are buying the onion a lot and they bought the onion with 15 big trucks by weight 300,000 viss (1 viss = 3.6lb) from Monywa and bought the onion from Myingyan with 25 big trucks by weight 500,000 viss, said Myanmar onion traders.

Moreover, they bought at the price which is the same as the market price of Bayint Naung Commodity Depot and if they go on buying like this, onion prices will not drop, said U Aung Kyaw Sein, an onion trader, to CNI.

" Today there are so many buyers at Myingyan Commodity Depot. There are about eight traders who have sold to Vietnam, Muse and Myawady. Vietnamese traders bought  a viss of onion at 2250 Kyats. This is the same price as the selling price of Bayint Naung commodity depot. They started buying at 2,000 Kyats a viss. Traders from small towns can't sell at this price.But Vietnamese traders bought at 2,150 yesterday because they probably could sell at a higher price. If this keeps up, the price can't drop" he said.

If Myanmar traders can export the onion directly, they cam make a profit more than before.

However,Myanmar traders and peasants need to meet the Philippine's demands relating to trade, said traders.