Strong demand drives up butter bean prices to double

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The price of newly harvested butter beans has risen twice on the back of strong domestic and foreign demand in recent days, Mandalay bean traders said.
Madaya and Singu townships are the largest suppliers of butter beans. Last year, the opening price of the bean season was K80,000 per three-basket bag of butter bean, whereas it significantly soared to K110,000-170,000 per bag depending on the size, according to Soe Win Myint depot.
“The price reached a five-year record high at the beginning of the harvest season this year. Domestic consumers also highly demand the bean at the moment. Chinese traders also started purchasing them. The bean is yearly shipped to China, India, Japan and Europe. They are cultivated in winter and harvested between January and March. The demand is growing year over year,” Soe Win Myint depot owner elaborated.
The butter beans are primarily grown in the central regions of Myanmar, mostly found in Minbu, Sinbyukyun and Salin in Magway Region, Mahlaing, Taungtha and Natogyi in Mandalay and Gangaw, Kalay, Kalewa, Shwebo and Kabaw valley areas in Sagaing Region. — Min Htet Aung (Mandalay Sub-Printing House)

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