Lower stocks push up chickpea price

The price of chickpeas went up as the stocks in the domestic market dropped.
The prices moved in the range between K1,818,000 and K2,010,000 per tonne on 1 December and escalated to K1,850,000 and K2,085,000 per tonne depending on varieties.
The figures showed a tremendous rise of K30,000-75,000 per tonne within three weeks.
The lower stocks and strong demand hiked up the price at the end of the chickpea season.
Newly harvested chickpeas will abundantly enter the market in end-January 2022, Myanmar Pulses, Beans and Sesame Seeds Merchants Association.
The country primarily cultivates paddy, corn, cotton, sugarcane, various pulses and beans. Its second-largest production is pulses and beans, accounting for 33 per cent of agri-products and covering 20 per cent of growing acres. Among them, black beans, pigeon peas and green grams constitute 72 per cent of bean acreage. Other beans including peanuts, chickpeas, soybeans, black-eyed beans, butter beans and rice beans are also grown in the country.
Myanmar’s agriculture sector is the backbone of the country’s economy and it contributes to the Gross Domestic Product greatly.
Myanmar ships chickpeas to foreign markets beyond self-sufficiency. More than 18,000 kilogrammes worth US$12.678 million have been exported to foreign countries since April, according to the Ministry of Commerce’s statistics. — NN/EMM