Yangon market braces for volatility in prices of beans and pulses

Both the sellers and traders who keep the stocks are closely observing the market and monitoring price changes over time amid the price volatility in the Yangon market so that they do not make losses, pulses traders said.


The prices stood at K2.538 million per tonne of black gram (FAQ/RC), K2.778 million per tonne of black gram (SQ/RC) and K4 million per tonne of pi­geon pea (red gram) on 20 September.


The price of black gram (FAQ) was above K2.5 million per tonne on 4-9 September. Then, the prices dipped below K2.5 million on 11-16 September. The price increased again to above K2.5 million on 18 and 19 September.


Similarly, the pigeon pea price hit a record high of K4.15 million per tonne on 8-13 September. The price decreased to K3.95 million on 18 and 19 September. Also, the price regained to above K4 million per tonne on 20 September.


The green gram from the Pakokku area was priced at K2,915-3,085 per viss between 31 August and 13 September. The price rose to K3.080-3,250 per viss on 14-20 September.


Myanmar shipped more than 720,900 tonnes of pulses, with an es­timated value of over US$586 million, to foreign countries over the past five months of the 2023-2024 financial year beginning 1 April, including 279,300 tonnes of black gram worth $214 million and 222,600 tonnes of green gram worth $149 million, according to the Ministry of Commerce.


The FOB prices stood at $945- 965 per tonne of black gram (FAQ), $1,045 per tonne of black gram (SQ) and $1,290-1,310 per tonne of pigeon pea on 20 September.


The main buyer India is likely to have low pulses output in 2023 as they reduced the cultivation acreage of monsoon pulses to 12 million hectares from 13.1 million hectares due to the low rainfall.


This being so, India has a require­ment to meet the growing demand. The prices are therefore likely to move up on the back of strong demand by foreign countries. Consequently, My­anmar growers might ramp up pro­duction this year, a market observer shared his opinion. — TWA/EM