Chickpea supply surpasses demand in domestic market

Newly-harvested chickpeas are entering the market while the millers’ demand is calming down, according to the Mandalay commodity depot.
Last year, demand outstripped supply, causing the price rise.
The prices moved in the range between K180,000 and K205,000 per 56.25/57.25 viss on 1 January 2023 and fell to K176,000 and K187,000 per 56.25/57.25 viss depending on varieties on 10 February.
The figures showed a sharp drop of K4,000-18,000 per 56.25 visses over one month.
New chickpeas from Monywa, Kyaukse and Sagaing areas started flowing into the Mandalay market.
The country primarily cultivates paddy, corn, cotton, sugarcane, various pulses and beans. Its second-largest production is pulses and beans, accounting for 33 per cent of agro-products and covering 20 per cent of growing acres. Among them, black beans, pigeon peas and green grams constitute 72 per cent of bean acreage. Other beans including peanuts, chickpeas, soybeans, black-eyed beans, butter beans and rice beans are also grown in the country.
Myanmar’s agriculture sector is the backbone of the country’s economy and it contributes to the Gross Domestic Product a lot.
Myanmar ships chickpeas to foreign markets beyond self-sufficiency. More than 18,000 kilos worth US$12.798 million have been exported to foreign countries so far in the current financial year 2022-2023 since April 2022, according to statistics from the Ministry of Commerce. — NN/EM