New supply of kidney beans brings down prices

A high inflow of new kidney beans slashed the prices when there was regular demand, Mandalay’s market figures showed.
The price of new kidney beans touched only K3.402 million per tonne in the third week of March 2024 after it hit a record high of K4.593 million per tonne on 7 February, indicating a drop of K1.2 million per tonne over the past month.
Myanmar exports kidney beans to China, India, Japan, Singapore, and other foreign countries through border and maritime trade channels. Myanmar shipped 59,425.711 tonnes of kidney beans worth US$50.31 million to foreign markets in the previous financial year 2022-2023 (April-March), the Ministry of Commerce’s statistics indicated.
Myanmar conveyed 33,466. 428 tonnes of kidney beans worth $40.32 million to foreign trade partners between 1 April and 8 March of the current FY 2023-2024, comprising 17,349.467 tonnes worth $17.633 million through maritime trade and over 16,116.96 tonnes worth $22.689 million via land borders, as per the Ministry of Commerce’s statistics.
Kidney beans are cultivated in October-November and harvested in early February. They are grown in the upper Sagaing Region, Bhamo in Kachin State, Kayin State and along the Ayeyawady River. The beans produced from Katha and Bhamo townships are in high demand in the domestic market due to their large size. — NN/EM