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
Beans prices hit record high on Indian demand
- August 11, 2021
- 670