Black gram price rebounds to over K1.8 mln per tonne

The price of black gram bounced back to over K1.8 million per tonne from a one-month fall in the domestic market.
On 2 January, it hit K1,690,000 per tonne. The price gained to K1,808,000 per tonne on 2 February, showing a sharp increase of K118,000 per tonne within one month.
India’s demand is a contributing factor to Myanmar’s black gram price. The strong demand at present elevated black gram prices, traders elaborated.
India notified on 28 December that the free import policy of black gram (urad) and pigeon pea (tur) extended up to March 2024, pushing black gram prices down in the domestic market.
Additionally, the price of black gram is positively related to the exchange rate. Kyat devalued at K2,860 against the US dollar.
Last August 2022, the price of black gram peaked at K2.1 million per tonne when Kyat hit a record low of K4,500 against hard currency.
Myanmar earned over US$1 billion from over 1.3 million tonnes of pulses in ten months of the current financial year, the Ministry of Commerce said.
So far, Myanmar has shipped 559,227.57 kilos worth $461.946 million to external markets.
Myanmar primarily exports black gram, green gram and pigeon pea among locally produced pulses. Of them, black gram and pigeon peas are mainly sent to India while green grams are shipped to China and Europe.
India has growing demand and consumption requirements for black gram and pigeon peas. According to a Memorandum of Understanding between Myanmar and India signed on 18 June 2022, 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. This G-to-G pact will not affect the pulses’ annual quota set by India. Myanmar’s exporters are also entitled to deliver the pulses to India under that annual quota. 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 besides Myanmar. — NN/EM

Share this post
Hot News
Hot News
Illegal timbers, electronics and vehicles seized
Palm oil wholesale reference price for Yangon Region sets for two-week fall
Octane surpasses diesel in prices
Courts to have jurisdiction for intellectual property matters from 1 April
People in temporary shelter provided with cash, foodstuffs
MoI Union Minister hears reports on academy stage construction, lighting, sound system, and stage design for film academy award ceremony
NSPNC, 7 NCA-signatory EAOs hold second-day meeting
30 March 2023
Duty-assigned staff members in eradicating illegal trade need to be free from corruption: Vice-Senior General
The Rising Global South – Growing to become the leader of the world