Price of mung bean up K80,000, pigeon peas costing K140,000 more post Thingyan

Sa green gram 72By Nyein Nyein

The beans and pulses market has seen a surge in prices after the Thingyan festival, with mung beans getting costlier by K80,000 per ton and pigeon peas by K140,000 per ton, said U Min Ko Oo, secretary, Myanmar Pulses, Beans, and Sesame Seeds Merchants Association.
The prevailing prices of beans are K845,000 per ton for mung bean FAQ (fair and average quality) and about K1 million for mung bean SQ (special quality). Old pigeon peas are priced at K970,000 per ton, while freshly harvested pigeon peas are fetching K1,080,000 per ton.
“Prior to the Thingyan Festival, mung beans were priced at K760,000 per ton. The price has now increased to around K845,000. Similarly, pigeon peas were priced at just K830,000 per ton, and are now fetching K970,000 per ton,” said U Min Ko Oo.
India, the main buyer of Myanmar beans and pulses announced an import quota of 150,000 tons each for mung beans and green grams, and 200,000 tons for pigeon peas. Following the announcement, the prices of mung beans and pigeon prices are likely to continue their upward trend, according to the association.
“India declared an import quota in March, and licences will be sought by April-end. However, there is still no official directive stating when the import of pulses will start. The price of pulses in the domestic market will also rise to a certain extent if there is steady demand from India,” said U Min Ko Oo.
This year, the acreage of mung beans and pigeon peas has declined, and so, the yield is expected to fall. Only 50,000 tons of pigeon peas are likely to be produced, while mung bean production is estimated at over 300,000 tons, according to the pulses market.
At present, in addition to India, Myanmar’s beans are purchased by Bangladesh, Pakistan, Nepal, Dubai, Malaysia, Indonesia, Japan, and European countries. But, the volume of demand from these markets is small.
“The Ministry of Commerce has been conducting a series of discussions to sell Myanmar’s beans under government-to-government agreements. Additionally, the ministry has been exploring more external markets,” said U Aung Htoo, the Deputy Minister for Commerce.
India’s move to restrict importation of pulses in August, 2017 has severely affected growers in Myanmar.
In the 2017-2018 fiscal year, over 1 million tons of mung beans, pigeon peas, and green grams were shipped to foreign countries. But, Myanmar earned only US$713 million from their export owing to a drop in price, according to data from the Ministry of Commerce.  (Translated by Ei Myat Mon)

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