Black gram, pigeon pea prices shoot up on positive market sentiment
The prices of black grams and pigeon
peas resurged on account of the bullish market.
The prices were registered at K3.015
million per tonne of black gram and K3.775 million per tonne of pigeon peas on
30 March and moved up to K3.174 million per tonne of black grams and K4.025
million per tonne of pigeon peas on 10 April. The figures reflected an
increase of K159,000 per tonne for black grams and K250,000 for pigeon peas.
The price fluctuation is closely tied
to the demand of the main buyer, India and the kyat-dollar exchange rate. The
price hit a record high of K3.5 million per tonne of black gram and K4.197
million per tonne of pigeon pea on 5 February 2024.
India also imports the black grams
(urad) from Brazil and other countries. Yet, they prefer Myanmar’s black grams
on account of better quality and higher availability of supply. India extended
the free import policy of black grams (urad) and pigeon peas (tur) up to March
2025.
Myanmar shipped over 1.7 million tonnes
of various pulses worth US$1.484 billion to foreign trade partners in the past
financial year 2023-2024 (April-March), the Ministry of Commerce stated.
Myanmar mainly exports black grams, green grams, and pigeon peas to foreign
markets. Of them, black grams and pigeon peas are primarily shipped to India,
while green grams are exported to China and Europe.
India has growing consumption
requirements for black grams and pigeon peas. According to a Memorandum of
Understanding between Myanmar and India signed on 18 June 2021, India will
import 250,000 tonnes of black grams and 100,000 tonnes of pigeon peas (tur)
from Myanmar for five consecutive years from 2021-2022 financial year to
2025-2026 FY. 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 yearly quota. The Myanmar Pulses, Beans, Maize and Sesame Seeds
Merchants Association stated that black grams, which India primarily purchases,
are commonly found only in Myanmar, whereas pigeon peas, green grams and
chickpeas are grown in African countries and Australia. — NN/EM
No comments