By Nyein Nyein
India has extended the deadline to import 250,000 tonnes of Myanmar mung beans until 15 May to remedy the delays caused by the lockdown rule imposed because of Covid-19 outbreak, according to an announcement by the Indian Directorate-General of Foreign Trade (DGFT).
Previously, India has announced that Myanmar needs to export 2019-2020 quota of 250,000 tonnes of mung beans to the country by March. When Myanmar could not export the mung beans within the deadline, India extended its deadline up to the end of April. Now, India has extended the import quota again because of the outbreak of Covid-19.
It means that India allowed importing of 2019-2020 quota of 250,000 tonnes of mung beans to the country by 15 May. The new 2010-2021 quota of bean has been allowed to continue to import into their country.
Myanmar does not need to worry about the bean market because India has given the quota to buy the bean and extended its deadline to import the bean to the country.
Regarding the permission to import 400,000 tonnes of mung bean, the permit is granted by the Indian government in response to the request made by President U Win Myint to purchase 400,000 tonnes of beans from Myanmar during his visit to India at the end of February.
Usually, India would demand mung beans, pigeon peas, green grams and yellow peas for the quota. But this time, India announced its permission to import 400,000 tonnes of mung beans only. With the permission to import 400,000 tonnes of mung beans in the next fiscal, it is likely that there will emerge a good bean market for the local farmers in next bean season, according to the bean traders.
After the announcement by the Indian government to purchase 400,000 tonnes of mung beans, the mung bean price goes up for a reasonable percentage in the market. On 19 March, the directorate also announced that the import of 400,000 tonnes of mung bean allowed for the 2020-2021FY will be available from 1 May 2020 to 31 March 2021. (Translated by Hay Mar)