Black gram price plunges back under K1.8 million

Although the price of black gram (RC) per tonne has declined below K1.8 million in the Yangon market, the price shoot up to K1,808,000 on 2 February and K1,815,000 on 3 February 2023. The price of black gram fell by K43,000 per tonne on 4 February, setting the price per tonne at K1,770,000, according to the daily price statements of the Yangon pulse market.
On 2 January 2022, a tonne of RC black gram was K1,285,000, and the price rose to K2.1 million on 31 August which was the highest price not only in 2022 but also in seven years from 2016. However, the price dropped below K2 million starting from 20 September and under K1.9 million on 29 September.
On 26 January 2023, it returned to above K1.7 million and reached over K1.8 million two days later, on 2 February. Nevertheless, the price of black gram slumped back to below K1.8 million on 4 February.
This month, a bulk of pigeon peas and mung bean have been entering the pulse market at a high price, while a few new black gram are entering the market at an unstable price rate. In the Yangon pulse market’s statement, there is only a little information about the trading of black gram and some of the trading of pigeon peas.
It is reported that the price per tonne of the black gram FAQ/FOB was US$725-745 in January, and went up to US$ 750-770 in early February.
There are imports from abroad as there is a decrease in the cultivation of Myanmar black grams, which are mainly exported to the Indian market, due to the weather conditions in 2022.
For the five years from 2021-2022 to 2025-2026, Myanmar was allowed to import 250,000 tonnes of black gram and 100,000 tonnes of pigeon pea yearly according to the G to G system. In addition, it is valid to import freely until the end of March 2024.
In early 2023, one quintal of black gram (0.1 tonne) in the Indian market was traded at around 7,000 rupees. As a new black gram will be produced in India in coming October, the price of black gram is expected to reach around 8,000 rupees.
According to a bean and pulse dealer, the remaining old beans are being kept and sold with caution in the Yangon pulse market. — TWA/CT