Market of coconut revives slightly

28 January 2021                           

The coconut market, which had to struggle with the cold sales due to Covid-19 outbreak, is now reviving again starting from the mid of January 2021, said a source from Coconut and Banana Brokers’ sales houses from Bargayar Brokerage Center.

The coconuts from Ayeyawady Region are imported to Bargayar Brokerage Center in Yangon through waterway and land, thereby transporting to the middle and upper regions of the country. However, the stay-at-home restrictions brought lesser freight transport and lower sales. Then, during these days, the sales are increasing again. In the earlier period, the freight transport was disrupted by the system of staying under quarantine after returning back from transporting goods to Yangon, and it was solved out so that the freight flow has become smoother for some extent.

 

U Thant Zaw, Management Committee Member of Bargayar Brokerage Center, said, “The ships are finding a way to solve the problem out. One stays in the village while another stays on the middle-way of the river. So, the freight flow becomes better in carrying both coconut and banana. The sales are also increasing again. We have two types of coconut: peeled and unpeeled. Unpeeled is more in demand now. Peeled coconut sees a decline in both price and sales force. Because of lesser orders received from other regions and states, coconuts are in stocks in the villages producing coconut. Moreover, the coconuts are dried and spoiled because they are left unpicked.”

When transporting the coconuts from Ayeyawady Region to the central and upper regions through Yangon, the main market demand comes from Mandalay, Pyay, Monywa, Meiktila, and Tachilek.

U Ayng Kyaw Thu, an owner of Brokers’ Sales House in Bargayar Brokerage Center, said, “The sales do not go as well as those of previous year. All are working with worry. Because of the disease, we do not dare to store the stocks in hand for long. Business is just a disaster this year.”

Because of slightly increasing sales and purchases, the prices are also getting quite high. U Win Naing Soe, a Coconut and Banana Merchant, said, “The sales were not good in the previous months and the imported freight dropped as well. The buyers do not come here because of low market demand. Now, the price also goes up slightly. Unpeeled coconut’s price goes up to 1,000-1,100 kyats from the previous price of 800-900 kyats, and peeled one is not at 800-850 kyats from the previous price of 700-750 kyats. The sales become alive again. There are no extra stocks imported than the market demand as all the brokers are dealing with the amount they can handle.”

In Bargayar Brokerage Center, in the previous times, four or five trucks left in a day from each brokers’ sales house transporting goods. Now, only 3 to 4 trucks could leave in the whole week. Although the market seems to thrive again now, it is still unpredictable.

Thaw Tar Swe Zin, Zwe Mahn and Bo Bo Thein