Beans prices hit record high on Indian demand

The mung bean and pigeon pea prices hit record high within five years due to the higher India demand.
In Mandalay market, the price of mung bean for three-basket bag is K120,000 while the pigeon pea fetches K115,000 per three-basket bag this year.
“The price of pigeon pea reached the record high during five years. The price of bean declined to K30,000 per three-basket bag in 2017 due to the import restrictions of India. During that period, the bean farmers and traders faced losses.
This year, we can grab a good situation for farmers as India would buy the bean for five years,” said U Soe Win Myint (Soe Win Myint brokerage) in Mandalay.
As the local consumption rate of chick pea, lablab bean, dolichos lablab and green pea is high during COVID-19 period, the bean prices also creep up. Currently, the price of lablab bean is K150,000 per three-basket bag while chick pea K124,000, dolichos lablab K140,000 and green pea K 150,000 in Mandalay market.
The farmers should grow the quality seedlings and expand the pigeon pea cultivation during this period as they have good export potential, he suggested.—Min Htet Aung/GNLM