India extends import deadline for black gram, pigeon peas by 31 March 2023

 

April 1

 

INDIA extended relaxations of conditions regarding clearance consignment for black gram (urad called in India) and pigeon peas until 31 March 2023, the Directorate General of Foreign Trade under India’s Ministry of Commerce & Industry released a notification on 29 March.

 

Earlier, the import deadline for black gram and pigeon peas with the relaxation of conditions is to expire on 31 March 2022.

 

India’s extension of import deadline is to govern their bean prices. The traders from India can freely import the beans with relaxations of quota.

 

This policy can have an impact on the domestic bean market which is likely to see flat prices, Aya Trade Centre guessed.

 

Next, the price of black gram is estimated at around K50,000 per basket depending on the local currency value against the US dollar exchange rate and gold price. A drastic drop of these beans is not expected.

 

The prices of black gram stand at K1.5 million per tonne, according to the Yangon Region Chambers of Commerce and Industry (Bayintnaung Wholesale Centre).

 

The price of black gram hit an all-time high of K2 million per tonne on 29 September 2021 tracking the Kyat devaluation K3,000 on the US dollar.

 

M y a n m a r c o n v e y e d US$728.718 million worth of over 950,490 tonnes of various beans and pulses to foreign trade partners between 1 October 2021 and 18 March 2022 in the mini-budget period. The country shipped $682.708 million valued in 394,352 tonnes of pulses and beans to foreign markets through sea route, and $46.01 million valued in 56,138 tonnes were sent to the neighbouring countries through land borders.

 

Myanmar exported US$1.57 billion worth of over two million tonnes of various pulses to foreign trade partners last financial year 2020-2021. The country shipped $966.4 million valued at 1.24 million tonnes of pulses and beans to foreign markets through the sea route, and $604.3 million worth of 786,920 tonnes were sent to the neighbouring countries through the land border.

 

Myanmar yearly produces approximately 400,000 tonnes of black gram and about 50,000 tonnes of pigeon peas. Myanmar is the top producer of the black gram, which is primarily demanded by India, while pigeon peas, green grams and chickpeas are also cultivated in Australia and African countries besides Myanmar. — NN/GNLM