Black gram price drops by K60,000 per tonne, pigeon peas price remains downward trend

The prices of black gram rose on 18 Augus 2022, whereas the pigeon peas price continued a downward spiral, according to statistics released by the Yangon Commodity Exchange.
Transactions of pulses were not seen in the market yesterday. The prices stood at K1,829,200 per tonne of black gram (Fair Average Quality/RC), K2,129,200 per tonne of black gram (Special Quality/RC) and K1,900,000 per tonne of pigeon peas (red gram/RC). The black gram prices increased again while the pigeon peas prices continued to decline.
On 17 August, the prices of black gram and pigeon peas fell in the Yangon market. The price of black gram was down by K60,000 per tonne and the pigeon pea price showed a decrease of K30,000 per tonne, a trader Ko Thet told the Global New Light of Myanmar (GNLM).
On 16 August, the prices were recorded as K1,853,200 per tonne of black gram (FAQ /RC), K2,165,200 per tonne of black gram (SQ/RC) and K1,970,000 per tonne of pigeon peas (red gram/RC). On 17 August, black gram prices were estimated at K1,786,000 per tonne for FAQ/RC, and K2,086,000 per tonne for SQ/RC, whereas the pigeon pea was priced at K1,940,000 per tonne respectively, as per the daily trade data released by the commodity depot.
The statement revealed that about 25 containers (600 tonnes) of black gram and five containers (120 tonnes) of pigeon peas were traded on 17 August, when the price slipped.
The main buyer of Myanmar beans India experienced a 4.6 per cent of acreage drop in the monsoon black gram season and a two per cent drop in pigeon peas acre compared to the corresponding period last year. Pigeon pea price jumped from 97 to 115 Indian rupee, citing the news of India’s pulses market.
A drop in pulses acreage, low inventory and low yield amid floods drove the prices up to 15 per cent over one month, according to that statement.
The pigeon peas are worth 115,000 Indian rupees per tonne in India. It is valued at about K3 million per tonne when it is calculated with the local currency. The price rise in the Indian market might prompt traders to buy Myanmar’s black gram and pigeon peas. As a result of this, hundred tonnes of pulses were traded when the price slightly declined in the Yangon market, a trader Ko San shared his opinion with the GNLM.
The prices of black gram and pigeon peas came close to K2 million per tonne. After the monsoon rice is harvested, the prices of crops such as summer paddy, black gram and chilli pepper increased this month compared to the rates recorded in the previous years to be grown under a mixed cropping system. Nonetheless, whatever crops we choose, there is a strong possibility to earn a high profit, the GNLM quoted U Phay Gyi, a grower from Phonesoegyi village, Kyaunggon Township as saying. — TWA/GNLM