Pigeon pea price on downward trajectory

The pigeon pea market is bracing for a downward trend at present, indicating a one-day drop of K500,000 per tonne in the domestic market.
The pigeon pea touched a high of K4.075 million per tonne on 3 November and then, the price plunged to K3.75 million per tonne on 16-17 November. The price plunge persisted to K3.25 million per tonne on 18 November.
The decrease in FOB price and weak demand are contributing factors to the price fall.
Myanmar primarily exports black gram, green gram and pigeon peas to foreign markets. Of them, black gram and pigeon peas are mostly conveyed to India while green grams are shipped to China and Europe.
Myanmar exported more than 970,000 tonnes of various pulses, with an estimated value of over $817 million, to foreign countries in the past seven months during the 2023-2024 financial year beginning 1 April, according to the Ministry of Commerce.
Myanmar’s pulses exports topped over US$1.47 billion from over 1.9 million tonnes in the past FY 2022-2023, the Ministry of Commerce’s statistics indicated. — NN/EM