Black gram prices rebound to K1.5 mln per tonne

The prices of black gram (urad called in India) have regained to approximately K1.5 million per tonne, the market’s data showed.
After the Central Bank of Myanmar notified on 3 April 2022 that foreign exchange deposits must be converted into local currency at its reference rate of K1,850, and India extended the import deadline on 29 March, the prices of black gram dropped to K1,385,000 per tonne on 4 April.
Nevertheless, it is just a temporary drop due to a high consumption requirement and yield of Myanmar’s black grams. On 23 April, it increased again to K1,482,000 per tonne.
India, the main buyer of Myanmar’s black grams, has high consumption of black grams. Furthermore, it reexports them to the external market. The annual consumption of black gram in India is estimated 2.7-2.8 million tonnes.
India extended relaxations of conditions regarding clearance consignment for black gram (urad called in India) and pigeon peas until 31 March 2023.
Myanmar conveyed US$830.625 million worth of over 1.09 million tonnes of various beans and pulses to foreign trade partners between 1 October 2021 and 31 March 2022 in the mini-budget period. The country shipped $780.156 million valued over 1 million tonnes of pulses and beans to foreign markets through sea route, and $50.469 million valued over 61,895 tonnes were sent to the neighbouring countries through land border.
Myanmar exported US$1.57 billion worth of over 2 million tonnes of various pulses to foreign trade partners last financial year 2020-2021.
The country shipped $966.4 million valued 1.24 million tonnes of pulses and beans to foreign markets through sea route, and $604.3 million valued 786,920 tonnes were sent to the neighbouring countries through land border.
Myanmar yearly produces approximately 400,000 tonnes of black gram and about 50,000 tonnes of pigeon peas. Myanmar is the top producer of the black gram that is primarily demanded by India, while pigeon peas, green grams and chickpeas are cultivated in Australia and African countries besides Myanmar.—NN/GNLM