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

LOCAL NEWS

The price of black gram has bounced back to over K1.8 million per tonne after the market holidays, as per the pulses market.
Before the Tazaungdaing holidays (6-7 Nov), the black gram fetched K1,788,000 per tonne on 5 November. On 8 November, the price rose to K1,810,000 per tonne again after the market holidays. The price was up by K22,000 per tonne within two days. Kyat depreciation against the US dollar is a main contributing factor to the price rise. The dollar was exchanged at around K3,000 in the black market.
In late August, the dollar against Kyat peaked at K4,500 in the black market. Following that, the black gram price reached a record high of K2.1 million per tonne.
Myanmar bagged over US$700 million from nearly 900,000 tonnes of pulses exports in the past seven months in the current financial year, the Ministry of Commerce’s statistics showed.
Myanmar conveyed over 899,541.734 tonnes of various beans and pulses worth $707.799 million to foreign trade partners between 1 April and 28 October 2022 in the current financial year 2022-2023. The country shipped 752,623.804 tonnes of pulses and beans valued at $607.942 million to foreign markets by sea, and over 146,917.930 tonnes valued at $99.857 million were sent to the neighbouring countries through land borders.
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 routes, and 786,920 tonnes worth $604.3 million were sent to the neighbouring countries through land borders.
Myanmar primarily exports black gram, green gram and pigeon peas. 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 2025-2026FY. 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/GNLM

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