Black gram price up by K50,000 per tonne within a week

The price of black gram (urad called in India) has risen by K50,000 per tonne within a week, according to Yangon Region Chambers of Commerce and Industry (Bayintnaung Wholesale Centre).
The black gram fetched only K1,400,000 per tonne in the domestic market on 2 September, whereas it touched a high of K1,451,000 per tonne (FAQ/RC) on 8 September.
Kyat weakening against the US dollar in the forex market caused the price of black grams to spike.
Moreover, the price rise is attributed to the relaxation of the bean import quota by India.
India set an import quota on beans including black gram and pigeon peas starting from 2017. Myanmar earlier had to export black bean and pigeon peas under the quota system and limit period.
On 15 May 2021, India’s Ministry of Agriculture and Farmers Welfare approved not only black gram but also other pulses being imported from Myanmar that have the bill of lading up to October-end 2021, with relaxations of conditions regarding clearance consignment up to 30 November 2021.
According to this statement, the previous notifications dated 19 March 2021 and 26 March 2021 were cancelled.
Additionally, Myanmar can export 250,000 tonnes of black gram (urad) and 100,000 tonnes of pigeon peas under the G-to-G (government to government) pact during the April-March period between the 2021-2022 financial year and the 2025-2026FY, as per the Memorandum of Understanding between the Ministry of Commerce and India’s counterpart signed on 18 June.
Myanmar yearly produces about 400,000 tonnes of black gram and 50,000 tonnes of pigeon peas.
Myanmar is the top producing country of black gram that India demands. Besides Myanmar, other beans such as pigeon peas, green grams and yellow peas, are also grown in Australia and Africa, Myanmar Pulses, Beans and Sesame Seeds Merchants Association stated. — NN/GNLM