Pigeon pea prices remain on high side in last week of July

The prices of pigeon pea (red gram) stayed high at K1.485 million per tonne in the Yangon market in the last week of July, said a trader from Bayintnaung wholesale market.
The price was up by K5,000 per tonne in the Yangon market this week compared to last week’s rate, the market data indicated.
At present, the price of pigeon peas in India is rising amid the acreage reduction. Traders are focusing on the supply and demand balancing. The prices are unlikely to fall amid currency volatility.
Myanmar’s pigeon pea is primarily shipped to India, and also exported to Singapore, the US, Canada, Pakistan, the UK, and Malaysia. But, the export volume to other countries rather than to India is extremely small.
This year, the G to G pact ensured a strong market next five years, along with other relaxations on import quota, Myanmar Trade Promotion Organization under the Ministry of Commerce stated.
Myanmar’s agriculture sector is the backbone of the country’s economy and it contributes to over 30 per cent of Gross Domestic Products. The country primarily cultivates paddy, corn, cotton, sugarcane, various pulses and beans. Its second largest production is the pulses and beans, accounting for 33 per cent of agro products and covering 20 per cent of growing acres. Among them, black gram, pigeon pea and green gram constitute 72 per cent of bean acreage. Other beans including peanut, chickpea, soybean, black eyed beans, butter bean and ricebean are also grown in the country.
Myanmar exported more than 8,200 tonnes of pigeon pea to the foreign trade partners between 1 October and 22 July in the current financial year (2022-2023), generating an income of over US$6 million, according to the Ministry of Commerce’s trade data.—KK/GNLM

Share this post
Hot News
Hot News
22 February 2024
Myanmar, Indian Armed Forces to forge friendly ties, further cooperation
Sri Ksetra Cultural Zone to undergo renovation and flood prevention measures
Over 170-year-old upside-down star flower tree conserved in Pyapon Township for visitors
Ministry of Health approves expansion of cancer treatment facilities and funding
Myanmar, Russia to implement government-to-government relations as well as people-to-people contacts
SAC Member DPM MoTC UM attends 76th Anniversary of Chin National Day ceremony
Daw Ni Ni, who runs blood clam farming business in Taninthayi Region emphasizes, in her interview with the IPRD, that the blood clams are currently exported to Thailand only, which re-exports them.
Weekly market update of dry groceries at Bayintnaung Commodity Wholesale Centre
Myanmar Passport Office ensures normal processing amid misinformation of irregularities