October 18, 2022
The price of Myanmar black gram is likely to climb up following the Kyat devaluation in the local forex market, according to Ayeya Trade Centre (ATC) under Myanmar Trade Promotion Organization.
At present, a dollar is exchanged at K2,900. The black gram price stands at K1,835,000 per tonne.
In late August, the dollar against Kyat peaked at K4,500 in the black market. Following that, the black gram price reached a record high of K2.1 million per tonne.
The monsoon black gram (urad) India, Myanmar’s main buyer country, is flowing into its local markets yet the heavy rain during the harvest time affected the quality and the moisture content is at a high level.
Therefore, high-grade black gram is highly demanded in India on the low stock.
That being so, the black gram of good quality is expected to fetch a handsome price. At present, the price of black gram (urad) is likely to rise to Rs 8,000-8,500 per quintal in Chennai, Agri World Mumbai forecasted.
Additionally, the price rise is certain if there are no trade policy changes, ATC stated.
According to a Memorandum of Understanding between Myanmar and India, India will import 250,000 tonnes of black gram and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022 financial year to 2025-2026 FY to fulfil the requirements of pulses consumption.
Myanmar conveyed over 833,984 tonnes of various beans and pulses worth $655.015 million to foreign trade partners between 1 April and 7 October 2022 in the current financial year 2022-2023. The country shipped over 690,134.616 tonnes of pulses and beans valued at $557.391 million to foreign markets by sea, and over 143,849.671 tonnes valued at $97.624 million were sent to the neighbouring countries through land borders.
Myanmar exported over 2 million tonnes of various pulses worth US$1.57 billion to foreign trade partners last financial year 2020-2021. The country shipped 1.24 million tonnes of pulses and beans worth $966.4 million to foreign markets through sea routes, and 786,920 tonnes worth $604.3 million were sent to the neighbouring countries through land borders.
Myanmar yearly produces approximately 400,000 tonnes of black gram and about 50,000 tonnes of pigeon peas. Myanmar is the top producer of the black gram that is primarily demanded by India, while pigeon peas, green grams and chickpeas are cultivated in Australia and African countries besides Myanmar. — NN/GNLM