Black gram price down by over K100,000 per tonne within 2 weeks
December 28, 2022
Black
gram price slipped to K1,707,500 from K1,838,000 per tonne within two weeks,
showing a sharp drop of over K100,000 per tonne.
The
fluctuation of black gram prices is positively related to the Kyat-dollar
exchange rate and India’s demand, the traders said. At present, Kyat slightly
appreciated at around K2,840 against the US dollar compared to the previous
months.
In
late August, the dollar against Kyat peaked at K4,500 in the black market.
Following that, the black gram price reached a record high of K2.1 million per
tonne.
Additionally,
the price of black gram (urad in India) is falling in the Chennai market in
India. Trading is slow-moving amid the Christmas and New Year holidays.
Next,
the newly harvested Myanmar black gram is expected to be exported to India in
March 2023. Myanmar traders do not want to sell old stocks at a reduced price
on low inventory, as per a report cited by Agri World Mumbai.
Myanmar
bagged over US$900 million from more than 1.1 million tonnes of pulses exports
over the past eight months in the current financial year, the Ministry of
Commerce’s statistics showed.
Myanmar
conveyed over 1,169,861 tonnes of various beans and pulses worth $917.691
million to foreign trade partners between 1 April and 16 December 2022 in the
current financial year 2022-2023. The country shipped 1,010,265.463 tonnes of
pulses and beans valued at $806.717 million to foreign markets by sea, and over
159,595 tonnes valued at $110.974 million were sent to the neighbouring
countries through land borders.
Myanmar
exported over 2 million tonnes of various pulses worth US$1.57 billion to
foreign trade partners last financial year 2020-2021. The country shipped 1.24
million tonnes of pulses and beans valued at $966.4 million to foreign markets
through the sea route, and 786,920 tonnes worth $604.3 million were sent to the
neighbouring countries through land borders.
Myanmar
primarily exports black gram, green gram and pigeon peas. Of them, black gram
and pigeon peas are mainly sent to India while green grams are shipped to China
and Europe.
India
has growing demand and consumption requirements for black gram and pigeon peas.
According to a Memorandum of Understanding between Myanmar and India signed on
18 June 2022, India will import 250,000 tonnes of black gram and 100,000 tonnes
of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022
financial year to 2025-2026FY. This G-to-G pact will not affect the pulses’
annual quota set by India. Myanmar’s exporters are also entitled to deliver the
pulses to India under that annual quota.
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 that is
primarily demanded by India, while pigeon peas, green grams and chickpeas are
cultivated in Australia and African countries besides Myanmar. —NN/EMM
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