China started purchasing mung beans from Myanmar beginning from August, according to Mandalay Pulses Market.
“The mung beans, which was mainly exported to India previously, has now less demand from India. Therefore, the local people were worried about losing their bean market. However, China started purchasing the mung beans, which can make the market to be sustained,” said U Soe Win Myint, owner of Soe Win Myint Brokerage.
“China purchases two 12-wheel vehicles of mung beans daily at current price. Now, the price of mung beans is likely to rise in the local market,” he added.
The price of mung beans reached to Ks 46,000 on 4 September, increasing from Ks38,000 per bag recently in Mandalay market. Currently, new mung beans are entering the market from Mandalay, Sagaing and Magway regions. A mung beans is sold at Ks40,000 per bag in the Mandalay market.
The price of black sesame and black cumin hit Ks 200,000 per bag, while the price of lablab bean is Ks150,000 per bag in Mandalay market.
Min Htet Aung (Mandalay sub-printing house)