The prices of black bean (called urad in India) and pigeon pea are rising a bit in the local market with the demand from abroad also on the increase, according to the bean market.
At present, the price of the black bean is K975,000 per tonne while that of pigeon pea is K780,000 per tonne.
In the aftermath of Myanmar water festival in April, the prices of black bean ranged from K995,000 to K1,000,000 per tonne while that of pigeon pea reached K800,000 per tonne, said Secretary U Min Ko Oo of the Myanmar Pulses, Beans and Sesame Seeds Merchants Association.
With the changing in the bean import policy of India, which is the main importer of Myanmar bean, the bean merchants are observing closely the bean market, according to the bean merchants.
Although India is set to import 400,000 tonnes of black bean for the next fiscal by March 2021, it changed its policy and narrow the import deadline to three-month period, according to an announcement from India released on 22 May.
With the amended import policy of India, Myanmar is unlikely to export the entire quota (400,000 tonnes) of black bean to India for 2021 Fiscal within three months as there is inadequate stock in the domestic market, he added.
Currently, Myanmar has around 250,000 to 300,000 tonnes of black bean stock. It is unlikely to export the entire quota of 400,000 tonnes to India. Besides, it is impossible to ship all of them to India’s port within three months, according to Myanmar Pulses, Beans and Sesame Seeds Merchants Association.
Myanmar is the top producing country of black bean that India demands. Besides Myanmar, other beans such as pigeon peas, green grams and yellow peas are also grown in Australia and Africa, the association stated. (Translated by Hay Mar)