Price of red pigeon pea has increased in export market this week, according to wholesalers in Yangon.
There was a slight increase in the price of red pigeon pea last week. In Yangon market, red pigeon pea (RC 2017) is mainly exported to the foreign market. An increase in red pigeon pea price is linked to a decline in export volume. It gets a higher price in export market.
Reducing red pigeon pea growing areas result in the low arrival of stocks at the market and an increase in price. The price of a ton of pigeon pea has hit K750,000 this week, up over K35,000 per ton than that of last week. When compared with last week, a basket of red pigeon peas is sold for K27,000 in Monywa market, up by K1,000 per basket while a basket of pigeon peas is worth at K27,300, up by 1,200 per basket in Pakokku market. In Pyay market, the current prices of the crop is K26,500, up by K500 per basket, against last week.
The export of pigeon peas still relies mainly on the Indian market because of low domestic consumption. The country also exports pigeon peas to Singapore, Indonesia, Malaysia and United Arab Emirates by shipping.
—Myanmar Digital News
(Translated by Khaing Thanda Lwin)