New monsoon onion price slumps by K400 per viss

New monsoon onion of 240,000 visses (a viss equals 1.6 kilogrammes) entered the Yangon market on 12 December 2022. Nine trucks (over 50,000 visses) of Myingyan onions and 22 trucks (130,000 visses) of Myittha onions had entered. Onions from Myittha and Myingyan area were priced at K3,300-K4,300 per viss and K2,000-K3,800 per viss, depending on varieties.
The prices of onions from the Myittha and Myingyan areas were K3,500-K4,500 per viss and K2,200-K4,200 per viss on 10 December. The price of those on 12 December was lower than the opening price by K100-K200 per viss. The opening price on 12 December decreased by K400 per viss compared to 10 December.
The highest wholesale price of monsoon onions was K4,700 per viss of big-sized Myittha onions and K4,400 per viss of Myingyan onions. About 100,000 visses of new monsoon onions enter the Yangon market daily, despite the lack of supply of old summer onions since 6 December.
Over 0.9 million new monsoon onions entered the market during the opening days, from 5 to 12 December, and most of them are from the Myittha area. On 8 December, 159,156 visses of new monsoon onions arrived at Pakokku depot and the highest price per viss was K3,500.
A total of 150,000 visses of onions were provided on 12 December and its highest price was only K3,200 per viss, according to the daily price information of the depot.
On 12 December, the highest price of a viss of Myittha Onion in the Mandalay market was K3,600. Monsoon onions weighing 149,720 visses entered the Myingyan Depot and were priced at the highest rate of K3,050 per viss on 12 December. Onion prices in the Yangon market have dropped along with the onion-origin regions, due to a large influx of new rain onions. Thus, the price is expected to fall further along with the low demand in Yangon. As a result, onions are being sold at a lower price than the opening price, an onion trader said. — TWA/CT