With India’s demand for black gram growing, the price hit an all-time high of over K2.8 million per tical, indicating a sharp rise of K340,000 per tonne within three weeks.
The price surged from K2.465 million per tonne on 3 October.
The FOB prices increased to US$1,045-1,065 per tonne on 23 October from $955-975 per tonne on 3 October, showing an increase of $90 per tonne, according to Yangon Region Chambers of Commerce and Industry (Bayintnaung Commodity Wholesale Centre).
Nonetheless, the pigeon pea price remained unchanged at K4.075 million per tonne.
Myanmar’s various pulses export earnings were estimated at over $715 million from over 860,000 tonnes in the H1 of the current financial year 2023-2024 beginning 1 April.
Myanmar’s pulses exports earned over US$1.47 billion from over 1.9 million tonnes in the previous FY 2022-2023, the Ministry of Commerce’s statistics indicated.
Myanmar primarily exports black gram, green gram and pigeon peas to foreign markets. Of them, black gram and pigeon peas are mostly shipped to India while green grams are exported to China and Europe.
Black grams that India primarily purchases are commonly found only in Myanmar, whereas pigeon peas, green grams and chickpeas are grown in African countries and Australia, according to the Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association said. — NN/EM
