Pigeon pea price hits record high of K3.8 mln per tonne

The pigeon pea prices were on an upward trend in late August in the Yangon market, hitting a fresh peak of K3.8 million per tonne on 31 August 2023.
Meanwhile, black gram prices also touched a high of K2.499 million per tonne on 31 August 2023.
The pigeon pea (red gram) witnessed a persistent rise at K3.45 million per tonne on 28 August, K3.5 million on 29 August, K3.675 million on 30 August and K3.8 million on 31 August, indicating a sharp rise of K350,000 per tonne in the past four days.
The FOB price stood at US$1,230-1,250 per tonne of pigeon pea, and $920-940 per tonne of black gram.
The pigeon pea was priced below K300,000 per tonne in early 2009. The price remarkably surged on 31 August 2023, which is a 12 times increase compared to that of 2009. The growers earned a handsome profit and expanded the cultivation.
India’s market observers forecast that the output of India’s pigeon pea (tur) cultivation is estimated at 300,000 tonnes in 2023. The pigeon pea is grown in May in the central Myanmar regions and it usually flows into the market at the end of the year. — TWA/EM