Export earning policy bites pulses market

As the export earning policy remains unchanged, pulse prices have been significantly dropping in recent days. Meanwhile, green gram prices barely fluctuated.
The black gram prices were volatile in February. The price stood at K3.02 million per tonne on 23 February and jumped to K3.22 million on 27 February. Then, it plummeted to K2.94 million per tonne on 28 February. Similarly, the pigeon pea price also plunged to K3.657 million per tonne on 28 February from K3.91 million on 20 February.
Nonetheless, the prices of green gram were stable at K2,830-K3,250 per viss for Pakokku green gram and K4,250 for Shwe Wah green gram variety between 23 and 29 February.
The chickpea prices decreased to K5,925-K6,300 per viss on 29 February from K6,250-K6,400 on 27-28 February.
The FOB prices stood at US$980-$1,000 per tonne of black gram (FAQ) and $1,220-$1,240 for pigeon pea from 19 to 24 February, whereas the prices slumped to $955-$975 for black gram (FAQ) and $1,190-$1,210 for pigeon pea on 1 March. Also, the FOB price dipped to $770-$800 per tonne of green gram from central Myanmar regions and $870-$900 for the Shwewah variety on that day, which was just a tiny price difference.
There is news spreading in India’s market that the reference price is likely to be set to control the prices of locally produced pulses. The misinformation on Myanmar’s currency market also influenced the price fluctuation. — TWA/KK