Mung bean prices up by K25,000 per tonne as India extends import deadline

By Nyein Nyein

With the increase in mung bean import quota by India, the domestic bean price has risen by K25,000 per tonne, according to the bean market.
At present, the mung bean price has risen to K990,000 from K965,000 per tonne while the pigeon pea price has increased to K780,000 from K760,000 per tonne.
Although India has set the mung bean import quota at 250,000 tonnes for 2019-2020 and the import is to be conducted not later than 15 May, the deadline has been extended for two times; however, the remaining 30,000 tonnes are still needed to import due to coronavirus, and the deadline has been extended to the end of May.

Traders seen choosing beans to export them.  File Photo
Traders seen choosing beans to export them.  File Photo

Previously, India has set the mung beans quota at 150,000 tonnes and increased the quota limit by a further 250,000 tonnes on 12 December last year, according to a trade notice issued by India’s Directorate General of Foreign Trade.
The increased quota of 250,000 tonnes was previously set to reach India by 31 March 2020. With low mung bean production in India because of climate change, the mung beans are purchased from Myanmar under the permission of the state government. So, the mung bean price has increased to over K1.3 million per tonne at the end of last year.
Moreover, India’s Commerce Department has issued an announcement to import 400,000 tonnes of mung beans for the 2020-2021FY on 17 March 2020.
The mung bean supplied to India is grown mainly in Myanmar. The types of beans such as pigeon pea and green gram are grown not only in Myanmar but also in Africa and Australia, according to Myanmar Pulses, Beans and Sesame Seeds Merchants Association. (Translated by Hay Mar)

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