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Pigeon pea prices double on extension of import validity period by India

in Mandalay mk 1

During the harvest time in March, the price of pigeon pea was opened at K6,800 per three-basket bag. Following the news of extension, the price tremendously rose to K135,000 per bag.

The price of pigeon pea rose to double in the recent days following the news of extension in the import validity period by India, Mandalay traders said.
During the harvest time in March, the price of pigeon pea was opened at K6,800 per three-basket bag. Following the news of extension, the price tremendously rose to K135,000 per bag. The prices of pigeon pea are rising in a brisk market, the Soe Win Myint depot from Mandalay stated.
“India extended the import validity period from October to December. Additionally, the price rise is attributed to the smaller stock, the Kyat devaluation and the strong demand. The growers are satisfied with the price increase. The traders also make a healthy profit. The pigeon pea market relies on the neighbouring country India. India set an import quota on beans including black gram and pigeon pea in 2017, causing the price to drastically plummet to K30,000 per bag. The traders and growers were battered by that consequences,” Soe Win Myint, a depot owner elaborated.
The pigeon pea is expected to have a high yield next season. The beans are actively traded after India relaxed the import quota. Myanmar’s pulses and beans exports can generate revenue to a large extent for the country,” he continued.
The pigeon pea cultivation is commonly found in the upper Myanmar regions such as Magway, Mandalay and Sagaing. The cultivation commenced in August and the favourable weather allows the plants to grow and flourish.— Min Htet Aung (Mandalay Sub-Printing House)/GNLM

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