Foreign demand weighs on pigeon pea price

The price of pigeon peas bounced back to K3.94 million per tonne on 3 February from K3.83 million per tonne on 1 February. Foreign demand drove the price rebound.
The figures showed a two-day rise of over K100,000 per tonne.
Similarly, the foreign demand surge pushed the pigeon pea price to a record high of K4.15 million per tonne on 8 September 2023.
Myanmar primarily exports black gram, green gram and pigeon peas to foreign markets. Black gram and pigeon peas are mainly delivered to India, while green gram is shipped to China and Europe.
India has growing consumption requirements for black gram and pigeon peas. According to a Memorandum of Understanding between Myanmar and India signed on 18 June 2021, India will import 250,000 tonnes of black gram and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022 financial year to 2025-2026 FY. This G-to-G pact will not affect the pulses’ annual quota set by India. Myanmar’s exporters are entitled to deliver the pulses to India under that yearly quota.
Myanmar conveyed 1.277 million tonnes of various pulses worth exceeding US$1 billion over the past nine months of the current financial year 2023-2024 beginning 1 April, the Ministry of Commerce stated.
Myanmar bagged $1.47 billion from 1.9 million tonnes of pulses exports last FY 2022-2023, the Ministry of Commerce’s statistics showed. — NN/EM