New entry to domestic market plummets chickpea price

 

The prices moved in the range between K180,000 and K205,000 per 56.25 visses on 1 December and fell to K170,000 and K183,000 per 56.25 visses depending on varieties on 21 December.

The figures showed a sharp drop of K10,000-K22,000 per 56.25 visses within three weeks.

New chickpeas from the Mandalay region started flow­ing into the Mandalay market. Newly harvested chickpeas will abundantly enter the market in end-January 2023, according to the Myanmar Pulses, Beans and Sesame Merchants Asso­ciation.

The country primarily cultivates paddy, corn, cotton, sugarcane, and various pulses and beans. Its second-largest production is pulses and beans, accounting for 33 per cent of agricultural produce and cov­ering 20 per cent of sown acre­age. 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 great­ly contributes to the Gross Do­mestic Product.

Myanmar ships chickpeas to foreign markets beyond self-sufficiency. More than 18,000 kilogrammes of chickpea worth US$12.678 million have been exported to foreign coun­tries since April 2022, according to the Ministry of Commerce’s statistics. — NN/EMM