Robust demand pushes kidney bean prices upward

The price of kidney beans surged in the Mandalay market on the back of robust domestic and foreign demand. China and India are mostly purchasing Myanmar’s kidney beans beyond high local consumption. The price hit the highest in a decade.
The price stood at K3.85 million per tonne at the end of July and tremendously rose to K4.025 million per tonne on 10 August, indicating a sharp increase of K170,000 per tonne within a few days.
Myanmar exports kidney beans to China, India, Japan, Singapore and other foreign countries via border and maritime trade channels. Myanmar shipped 59,425.711 tonnes of kidney beans worth US$50.31 million to foreign markets in the current financial year 2022-2023 (April-March), the Ministry of Commerce’s statistics indicated.
Myanmar conveyed over 15,147 tonnes of kidney beans worth $18.114 million to foreign trade partners between 1 April and 28 July of the current FY 2023-2024, with an export volume of 7,674.377 tonnes worth $7.44 million through maritime trade and over 7,473 tonnes worth $10.674 million via border, as per the Ministry of Commerce’s statistics.
Kidney bean cultivation begins in October-November and they are harvested in early February. They are grown in the upper Sagaing Region, Bhamo city in Kachin State, Kayin State and along Ayeyawady River. The beans produced from Katha and Bhamo townships are highly demanded in the domestic market on account of their large size. — NN/EM