Black gram price expected to remain elevated

Myanmar’s black gram price is likely to stay high, according to Ayeya Trade Centre (ATC) under the Myanmar Trade Promotion Organization.
Black gram price is fluctuating depending on domestic gold price and Kyat-dollar exchange rate in the local forex market. Tracking the hike in gold prices and soaring dollar, black gram price was on the high side. It hit K2 million per tonne in the domestic market on 24 September.
In late August, the dollar against Kyat peaked at K4,500 in the grey market. Following that, the black gram price reached a record high of K2.1 million per tonne. That being so, the prices of black gram in Myanmar is highly correlated with gold price and Kyat value against the hard currency US dollar.
Additionally, India, the main buyer of Myanmar black gram, plays a pivotal role in price conditions. India’s weather condition and pulses demand push up the price as well.
As the yield of the pulses produced in India declines, Myanmar’s black gram market sees potential, according to Ayeya Trade Centre.
According to a Memorandum of Understanding between Myanmar and India, 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.
As per Agri World Mumbai, India’s pulses output dropped compared to that of previous years. The torrential rain in India this year affected the interests of the growers.
Indian media covered the stories regarding the yield drop of monsoon crops in India. Consequently, millers in the various states are also increasingly buying them. As a result of this, black gram prices will climb up in the Indian market, traders shared their opinions.
Myanmar’s black gram will also go up to a certain extent accordingly, Ayeya Trade Centre stated.
On 22 September, the Union Minister for Agriculture, Livestock and Irrigation, Myanmar’s ambassador to India met with members of Indian Pulses and Grains Association in Mumbai city and discussed matters regarding promotion of bilateral trade.
Myanmar conveyed over 754,116 tonnes of various beans and pulses worth US$590.149 million to foreign trade partners between 1 April and 16 September 2022 in the current financial year 2022-2023. The country shipped over 611,529 tonnes of pulses and beans valued $493.56 million to foreign markets by sea, and over 142,587 tonnes valued at $96.589 million were sent to the neighbouring countries through land border.
Myanmar exported over 2 million tonnes of various pulses worth $1.57 billion to foreign trade partners last financial year 2020-2021. The country shipped 1.24 million tonnes of pulses and beans valued at $966.4 million to foreign markets through sea route, and 786,920 tonnes worth $604.3 million were sent to the neighbouring countries through land border.
Myanmar yearly produces approximately 400,000 tonnes of black gram and about 50,000 tonnes of pigeon peas. Myanmar is the top producer of the black gram that is primarily demanded by India, while pigeon peas, green grams and chickpeas are cultivated in Australia and African countries beside Myanmar.—NN/GNLM