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