Mung bean price surges in Mandalay amidst potential demand from India

Merchants evaluating various kinds of bean at a brokerage house in Mandalay.  Photo: Min Htet Aung
Merchants evaluating various kinds of bean at a brokerage house in Mandalay.  Photo: Min Htet Aung

Mandalay beans and pluses market has seen an upturned price of Mung bean, with increasing K15,000 per three-basket bag, after news has spread about the possible purchase of 0.25 million tons of this crop from India.
Mung bean market becomes lively with increasing rate from K90,000 to K105,000 per bag on 21 December of this month due to news about possible demand from India.
In Yangon commodity wholesale center, one ton of FAQ Mung bean rose to K 1.15 million on 21 December from K 1 million.
“Newly harvested Mung bean has entered the market, and the possible demand from India is a good news for the farmers,” said U Soe Win Myint, the owner of a wholesale commodity center.
The price of Mung bean was K34,000 per three-basket bag in previous harvest due to suspension of India’s purchase, but, reached to K68,000 after the Thingyan Festival of 2019.
“We are very happy for the increasing price of Mung bean as we suffered loss from the decline of paddy price,” said farmer U Thaung Hla from Singu Township of Kyaukse District.—Min Htet Aung (Mandalay Sub-printing House)

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