November 21, 2017

Mung bean and pigeon peas traded at bargain price in Yangon market

Myanmar pulses are kept on display for sale in a shop at a market.  Photo: Zaw Min Latt

With the pulses price declining, pigeon pea (red grams) was recently traded at lower price than set price in Yangon market, according to Tuesday’s report of Myanma Alin. The prices of pigeon peas were decreasing from Ks399,000 to Ks378,500 per ton between 9 and 11 October.
Following the suspension on pea import by India, domestic pulses price plummeted. To control the price, Myanmar Pulses, Beans and Sesame Seeds Merchants Association and the State contribute Ks50 billion each and shortly thereafter, floor price was officially released. The floor prices are Ks500,000 for a ton of mung bean and Ks400,000 for a ton of pigeon pea. Nevertheless, the peas were traded at lower market price in Yangon market. On 10 October, 25 containers loaded with pigeon peas were traded at bargain price and 30 containers filled with mung beans were also traded at lower price. Similarly, 10 containers of mung bean were traded at Ks495,000 and 25 containers loaded with red grams were traded at Ks380,000 on 13 October.
Selling at a floor price can earn more than market price. Currently, there are also sales with set price and so, trading with bargain price is likely to decrease.

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