CNI News

28 August 2022

Although Myanmar imported onions from India every year to keep the prices lower, there is no plan to buy the crop from the South Asian country this year, according to Bayint Naung Commodity Exchange.

Myanmar imported onions from India and China when local prices rose to K 3,000 per viss to keep the prices lower but there is no plan to import onions this year as onions sprout this time of the year and imports can negatively affect local cultivation, Chairman U Khin Han of the Myanmar Onion, Garlic & Vegetable Producers’ and Exporters’ Association told the CNI.

He said, “It is too late to import onions because new harvests start in September and October. As it is time for onions to sprout. Moreover, it takes time to import them and the US$ exchange rate is rising. If we import onion now, farmers will face difficulties. They will reduce onion acreage. So, we decided not to import onions from India.”

In 2015 and 2019, merchants who stored onions and speculated on the market and onion prices set new record prices. So, the association decided to import onions from India and China to satisfy the local demand.

 An onion shop. (CNI)

Only a few companies were permitted to import onions this year and they imported 800 tons of onions.

Although the association decided not import onions from India, Indian farmers want to export onions to Myanmar, according to Myanmar merchants.

If onions were exported from India, local prices are likely to fall to MMK 2,000 per viss, according to merchants.

Currently, Myanmar is exporting onions to Thailand and exporters are enjoying profits thanks to appreciation of Baht against MMK.