Black gram price in bear market upon large supply

NATIONAL NEWS

As the newly harvested black grams are constantly flowing into the market, the price stayed on downward trend these days.
​The price of black gram (urad called in India) drastically dipped to K1,080,000 per tonne on 20 December, whereas it fetched K1,345,000 per tonne on 14 December. It touched a high of K1,425,000 per tonne (FAQ/RC) on 1 December. It showed a drastic drop of K345,000 per tonne within 20 days.
Additionally, the black grams will be harvested in January as well. Consequently, the price is likely to remain on a down side.
Furthermore, the pulses price is directly related to the international market. At present, the exchange rate is stable at around K1,800 per USD.
Last September, prices hit an all-time high of K2 million per tonne tracking Kyat weakening against the US dollar in the local forex market when the black gram was highly demanded by the foreign trade partners. The US dollar value reached the highest of over K3,000 in history.
Over 88,328 tonnes of black gram with an estimated value of US$77.5 million were shipped to the foreign trade partners as of 19 November in the current mini-budget period (October 2021-March 2022).
Myanmar conveyed US$1.57 billion worth of over two million tonnes of various pulses to foreign trade partners in the financial year 2020-2021. The country shipped $966.4 million value of 1.24-million-tonne pulses and beans to foreign markets through sea route, and $604.3 million worth of 786,920 tonnes were sent to the neighbouring countries through land borders. — GNLM

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