Onion Price in Myanmar - 2023
Contents:
Onion Price in Myanmar (FOB) - 2023
The average onion export price stood at $787 per ton in December 2023, with a decrease of -20.3% against the previous month. Over the period under review, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 21% month-to-month. The export price peaked at $1,631 per ton in December 2022; however, from January 2023 to December 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Thailand ($801 per ton), while the average price for exports to China ($469 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.8%), while the prices for the other major destinations experienced a decline.
Onion Exports in Myanmar
Onion exports from Myanmar skyrocketed to 53K tons in 2022, with an increase of 26% on 2021 figures. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 134%. As a result, the exports reached the peak of 57K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, onion exports expanded remarkably to $39M in 2022. Over the period under review, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 89% against the previous year. As a result, the exports reached the peak of $58M. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Onion in Myanmar (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 5.0 | 8.8 | 11.0 | 33.9 | 89.3% |
| China | 16.8 | 30.8 | 16.7 | 2.8 | -45.0% |
| Bangladesh | 7.4 | 12.7 | 5.5 | 1.1 | -47.0% |
| Singapore | 0.3 | 1.8 | 0.3 | 0.7 | 32.6% |
| India | 0.6 | 0.3 | 1.2 | 0.1 | -45.0% |
| Malaysia | 0.8 | 3.5 | 0.2 | N/A | -50.0% |
| Others | N/A | 0.4 | 0.1 | N/A | -75.0% |
| Total | 30.8 | 58.4 | 35.0 | 38.6 | 7.8% |
Top Export Markets for Onion from Myanmar in 2022:
- Thailand (45.5K tons)
- Bangladesh (3.1K tons)
- China (2.5K tons)
- Singapore (1.5K tons)
- India (0.3K tons)
- Malaysia (0.1K tons)
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