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December 16, 2019

Bean merchants selling old stocks in Yangon market

After India lifted the ban on pulses importation, local pulses and bean merchants are selling their old stocks in Yangon market. A total of 200,000 tonnes of pulses were traded in the past two weeks, said bean merchants.
The news of imminent purchase by India has stimulated the market. The pulses market has recovered from a steep drop in price. Between 200 and 300 tonnes of pigeon peas are sold every day, said U Ye Myint Win, depot owner in Bayintnaung market.
The Indian government called for its pulses importers to submit the proposal regarding the import volume of mung beans, pigeon peas and green grams not later than 25 May.
In early May, India’s government released official news that allows for the import quota of 150,000 tonnes of mung bean and green gram each and 200,000 tonnes of pigeon peas. Indian merchants will import the pulses soon, prompting the other buyer countries to increase their demand.
During the 2017-2018 fiscal year, over 1.2 million tonnes of various pulses were exported to 64 countries, including India, according to a recent report in Myanma Alinn. –Myat Thu (AMIA)

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