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July 14, 2020

Yields low, but chickpea good-deal after Thingyan, say traders

Sales of chickpeas have been good in the Yangon market after Thingyan. Photo: Myo Win Tun (Monywa)

The market for chickpeas is thriving in the post-Thingyan period, in spite of low yields this year, said U Aye Kyaing, chair of the Monywa Depot. “In the period after the Thingyan festival, sales of chickpeas have been good. The supply is low this year due to low yields. The drop in yield is due to weather conditions. Also, some growers turned to watermelons, muskmelons, and other crops,” he said. Chickpeas are currently priced at K27,000-27,700 per basket. Most merchants usually store the peas in the periods before and after the Thingyan festival. “Low yields have hiked up the price by K1,000-1,500 per basket,” said U Aye Kyaing. About 5,000 bags of chickpeas were supplied to the Monywa depot after Thingyan, and they were delivered to markets in Mandalay and Yangon regions and Rakhine State.
“The spike in price is due to low yields and high demand from merchants, coupled with export demand. This is the harvest season for chickpeas. The cultivation season will start around October. Chickpeas stocks will run out if the export demand is high. The price might fall
by K500-1,000 per basket when demand cools,” said U Aye Kyaing.
“At present, growers will not face losses if they decide to store the peas. The market condition is quite good,” he added.—Myo Win Tun (Monywa) (Translated by Ei Myat Mon)

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