Black bean price likely to continue declining till the end of Feb

Price of matpe (black gram) is likely to face continual decline till the end of the month after the peak, according to black bean traders.
At present, the beans and sesame market has fallen while peanut price has been good.
“Black bean price has declined. Price of a bag is K291,000. It reached K300,000 again a few days ago. It has been dropping from K300,000-K300,500 to K291,000 now. The price rises and falls. I think it will continue declining till the end of the month,” said an official from Naing Mahar black bean trading.
It is reported that the crop has received many demands in overseas markets. In January, the export price rose to K3.1million a tonne, said traders.
“Newly harvested beans entered the market so the supply has been surplus and price declined,” said an official from Aung rice and beans trading.
There is probability that the price has fallen due to the news that India would set a reference price for beans, and at present, the trade has been normal, according to traders. — Thit Taw/ZS