Bean and pulse sales have been regular again in the market, and it is expected that black gram demand from India will increase in May, according to beans wholesalers.
Recently, prices of some kinds of beans have declined by about some thousands of kyats, but there has been no significant decline.
“Today’s black gram price drops a little compared to the price a couple of days ago. The price of some beans declines by just thousands of kyats, so it is a regular price. The trading of all kinds of beans has been operating every day,” said a bean trader.
Black grams are mainly bought from India, and currently, the demand is still low, though there is a likelihood of rising demand from India in May. China has also bought red beans (Adzuki beans).
“Beans price has been normal. Despite a slight decline, the price has stayed at a regular level without plunging down. There are some demands from China as well as from India. We have predicted that India’s demand will rise in May. Because India’s demand is usually on the rise in May,” he said.
According to the market price for 20 visses on 11 March, black grams were K97,000, red beans cost K68,000, and green mung beans were K67,000, said the Beans and Sesame Traders Association from Hinthada township.
For speculation, some traders have stocked all kinds of beans, therefore, warnings were made and if such acts are found, the Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association will find out and take action, the Ministry of Commerce issued an instruction on 8 March along with announcement dated 28 February 2024. — MT/ZS
