Positive outlook for jaggery market as prices rise

  • Thu, 28 March 2024

Positive outlook for jaggery market as prices rise

Jaggery market sees optimism in market sentiment along with the price reaching a record high, traders criticized. The jaggery fetches approximately K5,000 per viss in the jaggery season this year. The wholesale price of jaggery from Yesagyo, which is whiter in appearance, hit a high of K5,900 per viss. The retail price of jaggery peaked at K10,000 per viss, a retailer from Nyaungpinlay market from Lanmadaw Township told The Global New Light of Myanmar (GNLM).

Bayintnaung Jaggery depot’s figures showed that the prices stood at K4,800-K5,900 per viss on 18 March 2024, depending on producing areas.

The jaggery prices were registered at K1,500-K2,000 per viss in 2021, K2,100-K2,900 in 2022, K2,800-K3,000 in 2023 and K5,000 in 2024. The jaggery price became higher than that of sugar in 2024.

When the jaggery price was a mere K1,500 per viss, it did not cover the general cost, including the wages of the palm tree climbers in production. As the business is physically demanding but less secure financially, the locals migrate to foreign countries for jobs. Ko Aung Tun, who used to be a palm tree climber in Thalukan village, Yenanchaung Township and who is now working as a vendor in Yangon, told the GNLM.

The shortage of workers and low prices prompted some palm tree owners to cut down the trees for commercial purposes. Consequently, it was hard to find organic  in the market then.

It takes about a decade from farming to marketable jaggery production. Nonetheless, the palm tree climbing business seems to have developed following the jaggery price hitting a record high. The palm trees are primarily found in Kyaukpadaung, NyaungU, Yenanchaung, Pakokku, Yesakyo, Mahlaing and Taungtha areas.