Strong demand from oil millers drives chickpea prices to new highs

Chickpea prices have experienced a notable surge, fuelled by robust demand from oil millers, reports the Mandalay Commodity Wholesale Centre. As of 22 July, prices reached their peak, hovering between K245,000 and K2520,000 per 56.25/57.25 viss.
Chickpea cultivation takes place between October and November as a winter crop, with harvesting taking place from January to April. The crop is commonly found in regions such as Bago, Ayeyawady, Sagaing, and Magway regions.
Myanmar’s agricultural landscape primarily revolves around paddy, corn, cotton, sugarcane, various pulses, and beans. Notably, pulses and beans are the country’s second-largest agricultural production, accounting for 33 per cent of agro products and covering 20 per cent of cultivated acres. Among them, black beans, pigeon peas, and green grams constitute 72 per cent of the total bean acreage. Additionally, the country also grows other beans such as peanuts, chickpeas, soybeans, black-eyed beans, butter beans, and rice beans. Agriculture plays a vital role in Myanmar’s economy, with various beans and pulses being major contributors to the sector.
Myanmar’s chickpea production extends beyond self-sufficiency, with a substantial quantity being exported to foreign markets. Statistics from the Ministry of Commerce indicate that, during the current financial year 2023-2024, over 460 kilogrammes valued at US$0.429 million were shipped to international markets between 1 April and 14 July. Last financial year (April to March), the country exported more than 18,000 kilogrammes worth US$13.139 million to foreign countries, as per the Ministry of Commerce’s data. These figures reflect the country’s significance as a chickpea exporter on the global stage.
As the demand from oil millers continues to drive prices upward, the chickpea market remains a critical sector contributing to Myanmar’s agricultural success and trade prospects. — NN/EM