Rising onion supply brings Myanmar prices down
As the supply of onions has increased, prices have begun to fall significantly, according to merchants.
The new harvest, brought to the Pakokku market in the Magway region has brought down the prices from 3,000 to 2,400 kyat (1.86 to 1.49 euros) for 1.6 kg. “We received about 25 tonnes of onions on January 8. The current produce is from the inland fields,” said merchant Kyaw Than at Pakokku.
Since August, onions from the fields by the Yaw River have been in demand and the prices used to be as high as 3,200 kyat (1.98 euros) per 1.6 kg. This year, however, the riverbank onion cultivation fell short thanks to untimely rain and floods. Currently, the farmers face difficulty finding seeds.
Over 1,300 acres of onions have been spoiled during the flood and the loss reportedly totals over 2 billion kyat (1.24 mln euros). Farmers told elevenmyanmar.com they were hurt by dropping prices when they had a good harvest and by bad weather when they got a good price.
Publication date: 1/11/2018
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