Bean prices up due to lower local stock and increasing demand from India

A farmer sprays tonic on bean plants in Kawa.—Photo: Aye Min Soe
A farmer sprays tonic on bean plants in Kawa.—Photo: Aye Min Soe

Yangon, 3 Feb — The year 2015 is looking rosy for Myanmar’s pea and bean growers as the price of beans has increased since the start of the year when harvesting gets underway.
The price of one basket of green gram beans has risen to betweenK36,000 to K37,000 in February from about K30,000 per basket in the same period last year, according to farmers in Kawa, a country town about 40 miles north-east of Yangon.
Bean prices are heavily dependent on the Indian market, with about 80 percent of locally grown beans exported to India, and about 12 to 13 per cent exported to the ASEAN market yearly, according to the Myanmar Pulses, Beans and Sesame Seeds Merchants Association.
The bean market opened at around K750,000 per ton in December 2014, up sharply from around K500,000 to K600,000 per ton in the same period the previous year.
Bean prices usually fall in November and December. However, the prices have been surging upward this year due to demand from India and low stock at home.
The most popular kinds were black mung bean, green gram, toor whole and chickpeas. Most beans are grown in Bago, Yangon, Mandalay, Ayeyawady and Sagaing regions from November to February.
Farmers grow peas and beans as a second crop. — GNLM

Share this post

Comments

Hot News
Hot News