India is likely to extend Myanmar’s bean export deadline because of its growing domestic demand, said an official from Myanmar Pulses, Beans and Sesame Seeds Merchants Association (MPBSSMA).
On 22 May, India abruptly moved forward the import period for 400,000 tonnes of black beans by three months, i.e. 31 August 2020 from the earlier set deadline of March 2021, as per India official notice letter.
Although the bean association asked to extend the August deadline, India still has not responded to the request.
“Our association and the Ministry of Commerce have requested India to extend the deadline so that we can export the remaining quota by the end of March 2021, set by India for the first time. Also, we heard that India bean traders have also requested their Ministry to push back the deadline. However, we still haven’t heard any response from the Indian government. We hope to hear something from them sooner or later,” said U Min Ko Oo, the association secretary.
At present, Myanmar, a major grower of black bean, has exported about 100,000 tonnes of black beans to India, out of 400,000 tonnes target, according to the association. The price of bean has risen in the local market because India is buying Myanmar beans by giving the money in advance these days as India is badly in need of the beans.
Current price of black bean is K1,070,000 per tonne while the pigeon pea fetches K830,000 per tonne in the local market, MPBSSMA said.
By Nyein Nyein (Translated by Hay Mar)