The price of pigeon peas slumped to K3.45 million per tonne at the Yangon beans market on 26 August.
It gradually increased from K3.085 million on 9 August to K3.675 million on 19 August. The price dropped again after that and stood at K3.5 million per tonne for four days, from 22 to 25 August. The price on 26 August fetched K3.45 million per tonne.
The price fluctuation for a tonne of pigeon peas is around K600,000, while that of black gram RC is about K200,000. The lowest price of black gram was K2.315 million per tonne on 9 August and the highest price was K2.497 million per tonne on 19 August.
The Indian market speculates that there remain 25,000 tonnes of pigeon peas and 0.35 million to 0.4 million of black gram in the Myanmar market. It is also estimated that 0.65 million to 0.7 million new black grams and 0.25 million to 0.3 million new pigeon peas will be produced in Myanmar this year.
India mainly imports black gram from Myanmar and pigeon peas from Myanmar and Africa. Due to such demand in the Indian market, black gram and pigeon peas reached new record prices in 2023 in the history of the Myanmar bean market. — TWA/CT
