The ministry will allow onion import according to the policy if the onion price continues to rise, said Aung Htoo, Deputy Commerce Minister, at a roundtable discussion on “the introduction of Myanmar IP Law and the implementation of Trade Mark Law” at the UMFCCI in Yangon on November 29.
“There are fluctuations in onion price. Over the past years, we experienced the similar problem. But this year the onion price has gone up slightly. According to our policy, onion import will be allowed if the onion price is high. Efforts are being made to stabilize the onion price,” he added.
The ministry will not allow onion imports when it coincides with the onion harvest season in the country. Onion imports will be allowed if the onion price is skyrocketing and it doesn’t coincide with the onion harvest season. Onion imports depend on merchants. They will import onion from the countries which can sell onion at a cheap price. The Commerce Ministry is in a position to keep onion price stable, he continued.
Onion price per viss was Ks 500-Ks700 on 4 June, Ks600-Ks875 on 4 July, Ks525-Ks875 on 4 August, Ks550-Ks925 on 4 September, Ks Ks700-Ks1,350 on 4 October and Ks1,200-Ks2,100 on 4 November. On November 29, local onion price per viss reached Ks2,800-Ks3,100, according to the figures from Bayintnaung Wholesale Center.
