Strong demand spurs kidney bean prices

Traders are seen evaluating beans and pulses in the Mandalay Market.

The price of kidney beans escalated in the Mandalay market on the back of 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 jumped to K3.85 million per tonne on 18 July, 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 1,189.65 tonnes of kidney beans worth $1.665 million to foreign trade partners between 1 April and 7 July of the current FY 2023-2024.
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 Street, Kayin Street 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

Share this post
Hot News
Hot News