The pulses market sees a sustained increase in black gram and pigeon pea prices, breaking the previous record highs.
The black gram price has been on an upward trend since the last week of January. It hit a high of K3.402 million per tonne on 2 February and a fresh new peak of K3.5 million per tonne on 5 February.
Similarly, the pigeon pea prices peaked at K4.197 million per tonne on 5 February, surpassing the previous record high of K4.15 million per tonne registered on 8 September 2023.
The robust demand and rise in FOB prices pushed up the price.
Myanmar shipped over 1.277 million tonnes of various pulses worth over US$1 billion over the past nine months of the current financial year 2023-2024, the Ministry of Commerce stated.
The pulses exported last FY 2022-2023 generated an income of $1.47 billion from 1.9 million tonnes. Myanmar primarily exports black gram, green gram and pigeon peas to foreign markets. Black gram and pigeon peas are shipped mainly to India, while green grams are exported to China and Europe.
India has growing consumption requirements for black gram and pigeon peas. According to a Memorandum of Understanding between Myanmar and India signed on 18 June 2021, India will import 250,000 tonnes of black gram and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022 financial year to 2025-2026 FY. This G-to-G pact will not affect the pulses’ annual quota set by India. Myanmar’s exporters are entitled to deliver the pulses to India under that yearly quota.
Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association stated that black grams, which India primarily purchases, are commonly cultivated only in Myanmar. In contrast, pigeon peas, green grams and chickpeas are grown in African countries and Australia. — NN/EM
