Bangladesh buying over 300,000 viss of Myanmar onions daily

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13 Feb

Bangladesh is purchasing more than 300,000 viss of onions from Myanmar every day during the summer onion season in the local market, according to sources from the onion market in Mandalay Region.(One viss equals 3.6 pounds)

Currently, around 500,000 or 600,000 viss of onions are being supplied to the domestic market. Bangladesh onion traders are purchasing onions from Myanmar via the border areas.

China is also purchasing onions this year through the border. China usually purchases onions from Myanmar between February and August.

In the summer season in Myanmar, onion prices are likely to decline to K500 per viss. But this year, the price of onions is above K1,000 per viss.

The Ministry of Commerce has issued an import license to export and import companies, at the recommendation of the Myanmar Onion, Garlic and Vegetable Producers and Exporters Association. Moreover, the authorities have allowed them to import onions using Individual Trading Cards (ITC).

In the 2017-2018 financial year (FY), Myanmar earned over US$9 million from the export of 22,000 tons of onion. Myanmar earned over $20 million from the export of 87,000 tons of onions in the 2018-2019FY. Myanmar exports onions mostly to China, Thailand, India, and Bangladesh.

Onions are mainly grown in Monywa, Myingyan, Taungtha, Pakokku, Kyaukse, Mandalay, and Magway in Myanmar. —Aye Cho (Translated by Hay Mar)