Exchange reached a record high of 47 lakh pisa during the summer onion harvest, resulting in losses for vendors and stalls.
I spent 10 lakhs per month in previous months. The proprietors of the Pakokku Onion Festival claim that only approximately 12 lakhs were brought in.
“Ko Oo is more than 60 years old in Pakokku,” stated the proprietor of an onion stand. In my 22 years of employment, I have never received 4 million kyats in a single month. Now, 47 lakhs have been received in just 11 months. In point of fact, you must pay 10 lakhs in a single month. That is only twelve lakhs. He stated
Traders and stalls are losing money as a result of the high price of oxen, which hovers around 80 kyats per pound.
“They don’t follow the cost,” he said. I have to pay 80 pisa today. Because of the cost of labor and bags, approximately 40 to 30 pounds remain. In the event that you do it consistently, nothing remains. They all lose. Another proprietor of a Pakokku onion stall stated, “300 losers, 400 losers, 500 losers, and brokers also lose.”
Due to Kovit-19, the Pakokku Onion Commodity Exchange reopened on November 1 after being closed for three months and six months.
