Pulse prices cool on the back of low Indian demand

in Mandalay copy
Merchants evaluate quality of pulses at the Mandalay wholesale market.  Photo: Supplied

Low demand from India has pulled down the price of pulses in the domestic market, said U Min Ko Oo, secretary, Myanmar Pulses, Beans, and Sesame Seeds Merchants Association.
The prevailing price of mung bean is K860,000 per ton. Old pigeon peas are priced at K940,000 per ton, while newly harvested pigeon peas are fetching K1,050,000 per ton.
“The price of pulses jumps based on demand from India. As the Indian demand has cooled this week, the price of mung beans has decreased from K870,000 to K860,000 per ton,” said U Min Ko Oo.
India has not yet responded to Myanmar’s request on mung bean purchase. But, it has announced an import quota of 150,000 tons each for mung beans and green gram, and 200,000 tons for pigeon peas.
“There is still no response to our request on mung beans. India has only declared an import quota of 500,000 tons for mung beans, green gram, and pigeon peas,” said U Min Ko Oo.
A delegation of pulses and beans traders, led by the Union Minister for Commerce, had met with Indian officials at the 4th ASEAN-India Expo and Summit, held in February in New Delhi. At the meeting, they had asked India to purchase 400,000 tons of mung beans, according to the Myanmar Pulses, Beans and Sesame Seeds Merchants Association.
At present, in addition to India, Myanmar beans are purchased by Bangladesh, Pakistan, Nepal, Dubai, Malaysia, Indonesia, China (Taipei), Japan, and European countries. But, the volume of demand is low, according to the association.
“The Ministry of Commerce has been conducting a series of discussions to sell Myanmar beans through Government-to-Government pacts. 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 one million tons of mung beans, pigeon peas, and green gram were shipped to foreign countries. But, they fetched only US$713 million owing to the drop in price, according to data from the Ministry of Commerce.
By Nyein Nyein (Translated by Ei Myat Mon)

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