The price of pigeon peas hit an all-time high of over K3.3 million per tonne, according to the Yangon Region Chambers of Commerce and Industry (Bayintnaung).
The prices stood at K2.985 million per tonne on 1 June and then, it jumped to K3.33 million per tonne on 5 June. The figures showed a sharp rise of K345,000 per tonne of pigeon peas within a week. Similarly, the black gram price also peaked at K2.345 million per tonne in the market.
Strong foreign demand stimulated the price hikes of black gram and pigeon peas in the market.
Strong foreign drove the prices up. India forecast Myanmar’s black gram output is estimated at 650,000 tonnes. This year, the yield rate dropped by half owing to a reduction in sowing acres and threats of invasive pests, the growers said.
As a result of this, Myanmar Pulses, Beans and Sesame Seeds Merchants Association notified on 12 May 2023 that growers should primarily cultivate green grams and pigeon peas during this year’s pulses season.
There is a strong market share of black grams and pigeon peas in India. Most of the growers also select them as main crops.
India notified that the free import policy of black grams (urad) and pigeon peas (tur) extended up to March 2024, bringing more benefits to the stockholders in the supply chain including growers and exporters. Therefore, they should be selected as the main crops this year, the association mentioned.
Myanmar bagged over US$1.4 billion from over 1.9 million tonnes of various pulses exports in the past financial year 2022-2023, the Ministry of Commerce’s statistics indicated.
Myanmar primarily exports black grams, green grams and pigeon peas to foreign markets. Of them, black grams and pigeon peas are mostly conveyed to India while green grams are shipped to China and Europe.
India has growing demand and 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 annual quota.
Myanmar yearly produces approximately 400,000 tonnes of black gram and about 50,000 tonnes of pigeon peas.
Black grams that India primarily purchases are commonly found only in Myanmar, whereas pigeon peas, green grams and chickpeas are grown in African countries and Australia, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association stated. — NN/EM