The prices of black gram and pigeon pea escalated in the post-Thadingyut holidays (28-30 October) on the back of strong foreign demand, according to the Yangon Region Chamber of Commerce and Industry (Bayintnaung Wholesale Commodity Centre).
Prior to the Thadingyut holidays, the prices stood at K2.918 million per tonne of black gram and K4.075 million per tonne of pigeon pea on 27 October.
The opening prices in the post-Thingyan holidays were K2.937 million per tonne of black gram and K4.075 million per tonne of pigeon pea.
The pigeon pea price remained unchanged whereas the black gram price rally persisted and hit new highs in the domestic market.
The FOB prices were US$1,090-1,110 per tonne for black gram on 31 October, as per the Yangon Region Chamber of Commerce and Industry (Bayintnaung Wholesale Commodity Centre).
Myanmar primarily exports black gram, green gram and pigeon peas to foreign markets. Of them, black gram and pigeon peas are mostly conveyed to India while green grams are shipped to China and Europe.
Black grams which India primarily purchases are commonly found only in Myanmar, whereas pigeon peas, green grams and chickpeas are grown in African countries and Australia, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association.
Myanmar shipped more than 930,000 tonnes of pulses, with an estimated value of over US$778 million, to foreign countries over the past six and half months of the 2023-2024 financial year beginning 1 April, according to the Ministry of Commerce.
Myanmar’s pulses exports crossed over $1.4 billion from over 1.9 million tonnes in the past financial year 2022-2023, the Ministry of Commerce’s statistics indicated. — NN/EM
