Bean price jumps to three-year record high

Fried beans and pulses are displayed for sale at the shop in Mandalay.  Photo : Min Htet Aung (Mandalay Sub-Printing House)

The prices of black bean, pigeon peas and chickpeas which are mainly exported to India touched a three-year high on the back of strong demand by India, Mandalay traders said. The prices stood a low of K95,000 per three-basket bag of black bean, K70,000 per bag of pigeon peas and K75,000 per pack of chickpea in early September. The price has risen in mid-September and climbed up to K112,000 per bag of black bean, K88,000 per bag of pigeon peas, and K95,000 per pack of chickpea. The price soared to the highest in three consecutive years, Soe Win Myint depot owner in Mandalay said.
“China has been increasingly purchasing Myanmar beans amid the coronavirus crisis. However, the price sharply dropped in early September on account of weak demand. Following the news of India’s purchase for 150,000 tonnes of black beans and its further purchase plans for pigeon peas and chickpeas, bean prices remarkably increased,” he said.
At present, Mandalay commodity depot is temporarily closed as precautionary measures of the COVID-19. Nevertheless, the beans are traded through an online platform. The growers are preparing for the cultivation of winter crops_ black bean, pigeon peas and chickpeas.—Min Htet Aung (Mandalay Sub-Printing House) (Translated by Ei Myat Mon)

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