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July 18, 2019

Prices of mung beans stable in domestic market

Traders inspect the quality of various categories of beans in the wholesale market hall at the Bayintnaung Wholesale Centre.  Photo: Aung Phyo Kyaw
Traders inspect the quality of various categories of beans in the wholesale market hall at the Bayintnaung Wholesale Centre.  Photo: Aung Phyo Kyaw

The price of mung beans was stable this week in the Yangon market, as well as wholesale centres in other regions and states, according to the Agriculture and Market Information Agency (AMIA).
Traders sold a ton of mung bean for K677,000 in Bayintnaung Wholesale Centre, whereas wholesale prices of mung bean remained unchanged in both Monywa and Nay Pyi Taw, with merchants selling the crop at K23,000 per basket. During the period, the price of a basket of mung bean was sold for K23,000 in the wholesale market in Pyay, a decrease in prices by K1,000 per basket.
Merchants expect that prices of mung bean are not likely to rise again in the local market next week, urging growers to sell their crop when prices are high in the market, and encouraged merchants to monitor the market, rather than just buying and selling. The prices of mung bean decreased in the domestic market last week due to low foreign demand. Mung bean is a marketable export product which is harvested seasonally. Domestic traders tend to make deals during the low season and stock them in their warehouses. At present, mung beans have been exported to India, Pakistan, Dubai, Sri Lanka and Bangladesh.— Myanmar Digital News (Translated by Khaing Thanda Lwin)

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