Black gram price up by K40,000 per tonne within one week

​The price of black gram (urad called in India) significantly rose by K40,000 per tonne within one week, according to the Yangon Region Chamber of Commerce and Industry (Bayintnaung Wholesale Centre).
The black gram fetched only K1,382,000 per tonne in the domestic market on 24 November, whereas it touched a high of K1,425,000 per tonne (FAQ/RC) on 1 December.
The price is attributed to the strong demand by India, the bean traders said.
India’s Ministry of Agriculture and Farmers Welfare approved not only black gram but also other pulses being imported from Myanmar, with relaxations of conditions regarding clearance consignment up to 30 December 2021.
The pulses price is directly related to the international market so the price will fluctuate following the exchange rate. The prices of beans are unlikely to fall this month.
Last September, the 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.
Myanmar conveyed US$1.57 billion worth of over 2 million tonnes of various pulses to foreign trade partners last financial year 2020-2021. The country shipped $966.4 million valued at 1.24 million tonnes of pulses and beans to foreign markets through the sea route, and $604.3 million valued 786,920 tonnes were sent to the neighbouring countries through land borders. — NN/GNLM