Domestic pulses market prepares for decline amid lower FOB prices

With the FOB prices moving down, black gram and pigeon peas prices have fallen.
The FOB prices stood at US$1,090-1,370 tonnes for black gram (FAQ/RC) and $1,350-1,370 per tonne for pigeon pea on 1 November and plunged to $980-1,000 tonnes for black gram (FAQ/RC) and $1,190-1,210 per tonne for pigeon pea on 29 November.
The figures indicated a sharp drop of $110 per tonne of black gram and $160 per tonne of pigeon pea.
The prices touched a high of K2.894 million per tonne of black gram (FAQ/RC) and K4.075 million per tonne of pigeon pea (red gram) on 1 November. The price levels showed a sustained decrease of K2.78 per tonne of black gram and K3.25 per tonne of pigeon pea on 29 November.
The prices were down by K114,000 per tonne of black gram FAQ and K825,000 per tonne of pigeon pea within one month in the domestic market.
Black gram, green gram, and pigeon peas top the list of pulses exported. Among them, black gram and pigeon peas are primarily exported to India, while green grams are shipped to China and some European countries.
Myanmar exported more than 1 million tonnes of pulses, with an estimated value of over $865 million, to foreign trade partners over the past seven and a half months of the current 2023-2024 financial year beginning 1 April, as stated in the Ministry of Commerce’s statistics. Myanmar’s pulses exports bagged US$1.47 billion from over 1.9 million tonnes in the previous FY 2022-2023, the Ministry of Commerce’s statistics indicated. — NN/EM