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Black gram prices volatile in July hitting maximum of K1.63 mln per tonne

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Myanmar conveyed $395.703 million worth of over 522,332 tonnes of beans and pulses to foreign trade partners between 1 April and 8 July 2022 in the current financial year 2022-2023.

The prices of black gram (urad in India) have a bumpy ride in July. The price reached the highest of K1,630,000 per tonne, according to the bean market.
The black gram prices started to rise over K1.7 million per tonne starting on 2 July and they soared to K1,707,500 per tonne on 4 July.
Then, the price slid to K1,537,500 per tonne on 15 July. The figures reflected a decrease of K170,000 per tonne.
The price of black gram rose again to K1,670,000 per tonne on 16 July, showing an increase of K130,000 per tonne within five days.
On 21 July, the price dipped to K1,630,000 per tonne. So, the price was down by K40,000 per tonne.
However, the price remains high following robust demand by the leading buyer India and Kyat devaluation against the US dollar on the forex market.
Moreover, India agrees to purchase 250,000 tonnes of black gram and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from the 2021-2022 financial year to the 2025-2026FY, according to a press release issued on 18 July. Myanmar and India signed a Memorandum of Understanding (MoU) on pulses purchase in June 2021 and India has officially released the pulses import quota.
Pulses imports are allowed via the five ports; Mumbai, Tuticorin, Chennai, Kolkata and Hazira. India extended relaxations of conditions regarding clearance consignment for black gram and pigeon peas until 31 March 2023.
The market for black gram needs to be observed. The price is correlated with India’s demand, fuel price hike and forex rate.
Last September 2021, the prices hit an all-time high of K2 million per tonne when the US dollar exchange rate with Myanmar currency hit over K3,000 in the local forex market.
Myanmar conveyed $395.703 million worth of over 522,332 tonnes of beans and pulses to foreign trade partners between 1 April and 8 July 2022 in the current financial year 2022-2023. The country shipped $303.5 million valued at over 385,195 tonnes of pulses and beans to foreign markets through the sea route, and $92.203 million valued at over 137,136.76 tonnes were sent to the neighbouring countries through land borders.
Myanmar exported US$1.57 billion worth of over two million tonnes of various pulses to foreign trade partners last financial year 2020-2021. The country shipped $966.4 million valued in 1.24 million tonnes of pulses and beans to foreign markets through the sea route, and $604.3 million worth of 786,920 tonnes were sent to the neighbouring countries through land borders.
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 which 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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