The price of kidney beans has gained constantly in the Mandalay market on the back of robust domestic and foreign demand.
China and India have been purchasing Myanmar’s kidney beans in addition to high local consumption, causing the price to hit the highest in a decade.
The price stood at K3.85 million per tonne at the end of July and jumped to K4.31 million per tonne on 24 August, indicating a sharp increase of K450,000 per tonne in the past three weeks.
Myanmar exports kidney beans to China, India, Japan, Singapore and other foreign countries via border and maritime trade channels. Myanmar shipped 59,425.711 tonnes of kidney beans worth US$50.31 million to foreign markets in the current financial year 2022-2023 (April- March), the Ministry of Commerce’s statistics indicated.
Myanmar conveyed over 16,464 tonnes of kidney beans worth $20.062 million to foreign trade partners between 1 April and 11 August of the current FY 2023-2024, with export volume of 7,784.861 tonnes worth $7.605 million through maritime trade and over 8,680 tonnes worth $12.457 million via border, as per the Ministry of Commerce’s statistics.
Kidney bean cultivation begins in October-November and they are harvested in early February. They are grown in the upper Sagaing Region, Bhamo in Kachin Street, Kayin State and along Ayeyawady River. The beans produced from Katha and Bhamo townships are in high demand in the domestic market on account of their large size. — NN/EM
