The Pakokku Onion Commodity Exchange hit a record high of 47 lakh pisa in the summer onion harvest in November, leaving traders and stalls at a loss.
In previous months, I spent 10 lakhs a month. According to the owners of the Pakokku Onion Festival, only about 12 lakhs came in.
An owner of an onion stall said, “Ko Oo is over 60 years old in Pakokku. I have been working for 22 years and I have never received 4 million kyats in one month. Now, in 11 months alone, 47 lakhs have been received. In fact, you have to pay 10 lakhs in one month. That’s only 12 lakhs. ” He said.
The price of oxen is high at around 80 kyats per pound, and traders and stalls are losing money.
“They do not follow the price,” he said. Today I have to pay 80 pisa. Labor costs and bag costs, so about 40 to 30 pounds are left. If you do it regularly, there is nothing left. They all lose. 300 losers 400 losers 500 losers Brokers also lose, ”said another Pakokku onion stall owner.
The Pakokku Onion Commodity Exchange was closed for three months for six months due to Kovit-19 and reopened on November 1.