Onion prices continue to rise, supply shortage persists

In the domestic market, onion prices, which have been rising since around August, continue to increase without any sign of a decline, according to sources in the onion market. It is said that the main onion-growing regions are currently experiencing a shortage of onion stock, resulting in fewer arrivals in Yangon. Some onion traders and sellers analyze that prices may fall only after the new rainy-season onions arrive. It is reported that while Yangon market's daily demand for onions is around 150,000 viss (approximately 92 tons) on average, only a little over 100,000 viss (approximately 61 tons) are arriving daily at present. According to prices at the Bayintnaung wholesale market in Yangon, Seikpyu onions are priced between 5,800 and 7,200 kyats per viss for wholesale, and Monywa onions are priced between 6,000 and 7,400 kyats per viss for wholesale. In Yangon's retail market, prices range from around 8,000 kyats to around 10,000 kyats per viss, depending on the type and size of the onions. In Magway Region, a major onion-producing area, wholesale prices range from around 7,500 kyats to 8,000 kyats per viss, depending on the type and size of the onions, according to the Magway city onion market.