Pigeon pea price moves down following bearish market sentiment

The price of pigeon pea declined to K3.85 million per tonne on 19 February amid the sluggish market after a record high of K4.197 million per tonne on 5 February.
The figures showed a sharp drop of about K350,000 per tonne in the past two weeks.
Myanmar primarily exports black gram, green gram and pigeon peas to foreign markets. Of them, black gram and pigeon peas are mostly delivered to India while green gram is shipped to China and Europe.
India has growing consumption requirements on black gram and pigeon peas. According to a Memorandum of Understanding between Myanmar and India signed on 18 June 2021, India will import 250,000 tonnes of black gram and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022 financial year to 2025-2026 FY. This G to G pact will not affect the pulses annual quota set by India. Myanmar’s exporters are also entitled to deliver the pulses to India under that annual quota.
Black gram that India primarily purchases is commonly found only in Myanmar, whereas pigeon pea, green gram and chickpeas are grown in African countries and Australia, the Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association stated.
Myanmar conveyed 1.3 million tonnes of various pulses worth exceeding US$1.123 billion over the past ten months of the current financial year 2023-2024 beginning 1 April, the Ministry of Commerce stated.
Myanmar bagged $1.47 billion from 1.9 million tonnes of pulses exports last FY 2022-2023, the Ministry of Commerce’s statistics showed. — NN/EM

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