You can read daily news of Global New Light of Myanmar using mobile applications. Download now!

October 23, 2018

Prices of pulses and beans increase because of India’s bean import policy

Myanmar pulses are kept on display for sale in a shop at a market. Photo: Min Thit (MNA)

Prices of pulses and beans have significantly increased after the announcement of India’s bean import policy on 4 May and 11 May.
After India announced on 4 May that it would import 150,000 tonnes of mung beans and green gram each, the price of mung beans has increased over Ks80,000 per tonne. Imports will also be restricted to 200,000 tonnes of pigeon beans. And, the price of pigeon beans has also increased over Ks80,000 per tonne within a day, said U Min Ko Oo, secretary of Myanmar Pulses, Beans & Sesame Merchants Association.
In the first week of May, the price of mung beans increased to Ks510,000 per tonne from Ks380,000 per tonne. The price of pigeon beans also increased to Ks480,000 per tonne from Ks350,000 per tonne.
“After the announcement of the pigeon bean import permit, the price of beans is stronger when imported between 3,000 and 4,000 tonnes with free on board (FOB). The price of beans increases depending on the FOB,” said U Min Ko Oo.
There will also be difficulties for India to import beans from other countries because India’s bean production has increased this year. Therefore, we encourage bean farmers to grow mung beans and green gram this year, which do not need to compete with other countries’ markets, said U Toe Aung Myint, Permanent Secretary of the Ministry of Commerce.
At the time of changing India’s bean import policy, the price of mung beans was Ks900,000 per tonne, while the price of pigeon beans was Ks800,000 per tonne. Recently, the market for mung beans, pigeon beans and green beans cultivated in Myanmar relies only on the Indian bean market. Myanmar exports some 1.5 million tonnes of beans to India annually. The price of beans has significantly declined in the local market after India announced a new policy in August to buy only 200,000 tonnes of pigeon beans, 150,000 tonnes of mung beans and green beans each, from bean exporting countries, including Myanmar.

 

Comments

Related posts

Translate »