Black gram price up by K32,000 per tonne tracking strong local demand

Local solid demand boosted black gram (urad) price to K912,500 per tonne on 11 May, which showed a gap of K32,000 per tonne compared with April-end.
Black gram fetched K880,000 per tonne in April-end, and the high demand pushed up the price up to K912,500 on 11 May.
The domestic bean market is positively related to the law of supply and demand. The current market price has not reached the rate registered in February.
The black gram was worth K967,500-K1,157,000 per tonne in early February, Bayintnaung Wholesale Centre’s statistics showed.
India has notified the annual quota of black gram (400,000 tonnes) imports for its financial year 2021-2022, starting on 1 April. However, the exports of the black gram will take time during the meantime, said an official from Myanmar Pulses, Beans and Sesame Seeds Merchants Association.
The reduction of currency in circulation due to the restriction of private banks and the political changes is a contributing factor to a moderate price, traders said.
Since 2017, India has been setting import quota on beans, including black gram and pigeon peas. Therefore, the growers face difficulties to export their beans to the Indian market.
Myanmar has to export black bean and pigeon peas under the quota system and limit period. Consequently, there is no guarantee that we could get the prevailing market price next year, the market observers shared their opinions.
Following the uncertainty in black bean and pigeon peas markets, the association suggested, in October-end 2020, that the growers cultivate black-eyed bean more.
Myanmar’s agriculture sector is the backbone of the country’s economy. It contributes to over 30 per cent of Gross Domestic Products. The country primarily cultivates paddy, corn, cotton, sugarcane, various pulses and beans. Its second-largest production is the pulses and beans, counting for 33 per cent of agro products and covering 20 per cent of growing acres. Among them, black gram, pigeon peas and green grams constitute 72 per cent of bean acreage. Other beans, including peanut, chickpea, soy pea, black-eyed beans, butter bean and rice bean, are also grown in the country. — HH/GNLM