By Nyein Nyein
India has notified the annual quota of beans imports for the next fiscal year 2020-2021, including 400,000 tonnes of pigeon peas, said Secretary U Min Ko Oo of the Myanmar Pulses, Beans and Sesame Seeds Merchants Association.
India’s Department of Commerce under the Ministry of Commerce and Industry informed of the quota limit for the next FY on 28 March, allowing Indian millers to import 400,000 tonnes of pigeon peas, 150,000 tonnes of green peas and another 150,000 tonnes of yellow peas and other types of beans.
Moreover, India’s Commerce Department has announced to import 400,000 tonnes of mung beans for the 2020-2021 FY as per the amended 2015-2020 Foreign Trade Policy of the Central Government.
“India notified import quota by end-March. Following Myanmar President’s visit to India, India issued quota restriction for mung beans for the 2020- 2021FY. Again, they’ve released an announcement on annual quota for other types of beans including 400,00 tonnes of pigeon peas”, said U Min Ko Oo.
“India’s notification of pea import quota for the coming fiscal year reflects the requirement of India’s market. The larger quota limit is a good potential for Myanmar’s bean industry”, he added.
“India increased the quota limit from 150,000 to 400,000 tonnes to reach the market’s demand. This action will bring benefits both to the Indian importers and Myanmar traders and growers. The local traders and growers are happy with early notification of India. The market is expected to grow better next year than the current fiscal year”, he noted.
Following India’s notification on quota limit, the prices of pulses and beans have risen. Mung bean is priced at K985,000 per ton, while pigeon peas fetch K710,000 per ton.
Myanmar is the main supplier of mung beans to India. Concerning other types of beans, Myanmar has to compete against Australian and African markets, according to Myanmar Pulses, Beans and Sesame Seeds Merchants Association. (Translated by Ei Myat Mon)