Pigeon pea price rebounds to above K3 mln per tonne

The price of pigeon pea bounced back to above K3.05 million per tonne on 25 July after dropping to below K3 million per tonne on 21 July, showing a sharp increase of K100,000 per tonne within two days, according to the Yangon Region Chamber of Commerce and Industry (Bayintnaung).
Similarly, the price of black gram also rose to K2.257 million per tonne on 25 July as well. The price fluctuation of black grams and pigeon peas is highly correlated with the demand of the main buyer, India.
Prices hit record highs of K2.461 million per tonne of black gram on 14 June and K3.33 million per tonne of pigeon pea on 5 June on the back of strong demand by India.
Myanmar shipped over 490,000 tonnes of pulses worth US$380 million to foreign markets in the Q1 of the current financial year 2023-2024, according to the Ministry of Commerce.
Myanmar bagged over US$1.4 billion from over 1.9 million tonnes of various pulses exports in the past financial year 2022-2023, the Ministry of Commerce’s statistics indicated.
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.
India has growing demand and consumption requirements for 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 grams 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.
Myanmar yearly produces approximately 400,000 tonnes of black grams and about 50,000 tonnes of pigeon peas. Black grams that India primarily purchases are commonly found only in Myanmar, whereas pigeon peas, green grams and chickpeas are grown in African countries and Australia, as reported by Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association. — NN/EM

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