Supply of new chickpeas brings down prices

A high influx of fresh chickpeas in the market pushed down the prices, Mandalay wholesale depot’s figures showed.
At present, chickpeas produced from Thedaw, Wundwin, Kume, Sagaing, and Monywa areas flow into the Mandalay market. Subsequently, the prices continued declining.
The prices moved in the range between K235,000 and K246,000 per 56.25 viss on 2 March.
The prices peaked at K287,000-K315,000 per viss on 12 January as the demand by oil millers and growers who store the seeds for planting in the following season outstripped supply in the market.
The chickpea is commonly cultivated in October-November and harvested in January-April. It is primarily cultivated in Bago, Ayeyawady, Sagaing, Magway and Mandalay regions.
The country primarily cultivates paddy, corn, cotton, sugarcane, various pulses and beans. Its second largest production is pulses and beans, accounting for 33 per cent of agro products and covering 20 per cent of growing acres. Among them, black beans, pigeon peas and green grams constitute 72 per cent of bean acreage. Other beans, including peanuts, chickpeas, soybeans, black-eyed beans, butter beans and rice beans, are also grown in the country.
Myanmar’s agriculture sector is the backbone of the country’s economy, and it significantly contributes to the Gross Domestic Product (GDP).
Myanmar ships chickpeas to foreign markets beyond self-sufficiency.  More than 3,500 kilogrammes worth US$3.548 million were exported to foreign trade partners in the current financial year 2023-2024 since 1 April, according to the Ministry of Commerce’s statistics.
Myanmar exported over 18,000 kilos worth $13.139 million in the last FY 2022-2023. — NN/EM