Green gram price escalating after China reopens border posts

Green gram market sees an upward trajectory in prices tracking the resumption of China’s border posts.
Additionally, newly harvested green grams are steadily flowing into the markets.
The prices of green gram stand at K140,000-K152,000 per bag in Mandalay market depending on the quality.
Next, the newly harvested green grams are priced K48,000 per 19-viss basket (a viss equals 1.6 kg) at the commodity centre in Minbu town, said U Tin Maung Tun, an owner of No.3 commodity centre.
“I just started to cultivate Yezin-14 green gram strain on three acres this year. As the green gram fetches K48,000-K50,000 per basket in the beginning of the harvest season, we are commercially doing well. The cultivation costs K400,000 per acre. The yield rate is estimated at 40 baskets per acre. As we have alluvial soil in our area, we need to utilize fertilizer in small quantity. Although I farm on a manageable scale, the good yield and good price allow me to earn great profits,” said Ko Soe Lin Aung, a grower from Ngwethaung village in Minbu Township.
According to the newsletter (7/2022) dated 23 May issued by the Ministry of Commerce, traders need to seek export licence for various beans and pulses, oil crops and edible oil in order to alleviate the impacts on the domestic edible oil prices amid the global oil export slump. This notice will come into effective starting from 1 August 2022 and traders must seek export licence for those goods whatever trade routes (sea, border or air) they use. China accounts for 60 per cent of Myanmar’s green gram exports.
China prefers green grams (Shwewah) variety. China produces value-added products made of green grams and sends them to foreign markets. Moreover, it produces bean by-products as feedstuffs.
Myanmar conveyed US$97.9 million worth over 125,877 tonnes of green grams to foreign trade partners between 1 April and 20 May of the current financial year (2022-2023), according to the Ministry of Commerce’s trade data.—Zeyar Htet, KK/GNLM