Black gram price hits new record high to over K2.7 mln per tonne

The black gram price hit a new record high of over K2.71 million per tonne on 19 October, indicating a sharp rise of K245,000 per tonne within three weeks.
The price surged from K2.465 million per tonne on 3 October.
Nonetheless, the pigeon pea price stayed the same on the high side at K4.075 million per tonne.
The main buyer India’s strong demand drove the prices of Myanmar pulses.
Myanmar’s various pulses export earnings were estimated at over $715 million from over 860,000 tonnes in the H1 of the current financial year 2023-2024 beginning 1 April.
Myanmar’s pulses exports earned over US$1.47 billion from over 1.9 million tonnes in the previous FY 2022-2023, the Ministry of Commerce’s statistics indicated.
Myanmar primarily exports black gram, green gram and pigeon peas to foreign markets. Of them, black gram and pigeon peas are mostly shipped to India while green grams are exported to China and Europe.
Black grams that India primarily purchases are commonly found only in Myanmar, whereas pigeon pea, green gram and chickpeas are grown in African countries and Australia, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association said. — NN/EM