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September 23, 2019

Prices of beans and pulses expected to rise in 2015

A thriving pigeon pea plantation expanding green colour till horizon for enabling farmers to earn increased income.
A thriving pigeon pea plantation expanding green colour till horizon for enabling farmers to earn increased income.

Yangon, 11 Jan — Prices of Myanmar beans and pulses are expected to hike in early 2015 due to an increase in value of US currency compared with other currencies, according exporters from this sector.
Myanmar annually produces more than 1.2 million tons of beans and pulses— 500 thousand tons of mung bean, 300 thousand tons of green gram, 200 thousand tons of pigeon peas and other varieties.
A businessperson in Bayintnaung Brokerage said to the Global New Light of Myanmar: “The prices of beans and pulses are expected to increase this year due to the exchange rate.”
Productive rate of beans in central Myanmar region declined 30 percent due to drought, with pigeon pea at K24,000, green gram at K33,000 and mung bean at K 3,3500 per basket.
Myanmar export 70 percent of mung beans to India, while 50 percent of green gram to China. Demand of pigeon peas to western countries also contributes to a certain extent although purchasing volume of this variety in those countries is gradually increasing.
A recent study by the International Food Policy Research Institute showed that pulses imports of India rose from 0.1 million tons in 2000 to a staggering 4.1 million tons in 2012. In terms of value, pulses import has joined the billion-dollar club, rising US$ 45 million in 2000 to $1.93 billion in 2012.
The bean exporter said the reasons for increasing local prices of beans and peas are because of declining Myanmar currency rate against hard currency, as well as higher demand of foreign markets where crops were devastated amidst natural disasters such as floods and heavy rains.
He said: “The fall of fuel price will not affect on the prices of these crops as transportation charges for export items are not likely to change.”
An economist said both fuel price and exchange rate should be stable not avoid serious fluctuation of inflation rate, saying that a higher inflation will lead to increasing commodity prices.
He added that stable exchange rate will help to keep prices stable, and lower consumer demand in the domestic market.
The global prices of most commodities such as oil, soybean oil and sugar have been on a long-term, downward trend since the recession of 2007-2009.
The annual average global price in November 2014 was 3.9 per cent lower compared to the corresponding month in 2013.—GNLM

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