Black gram, pigeon pea prices hit new peak on 13 May

The pigeon pea price surged to K2.52 million per tonne when the black gram price touched the highest of K2.215 million per tonne, reaching an eight-month high in mid-May 2023.
Although Yangon’s wholesale market is sluggish following the Cyclone Mocha news, the prices of black gram and pigeon peas stayed strong.
On 31 August 2022, the black gram RC price climbed to K2.1 million per tonne. Yet, the price broke the record at above K2.1 million per tonne on 26 April.
Between 26 April and 13 May, 260 containers (6,240 tonnes) of black gram were traded, market data pointed out. The highest price of pigeon peas was K2.175 million per tonne on 19 September 2022. The price hit a fresh new peak on 7 March 2023 and surged to K2.52 million per tonne on 13 May.
The FOB price of pulses stood at US$900-920 per tonne of black gram RC, $1,000-1,020 for black gram SQ/RC and $990-1,010 for pigeon peas.
India is the main buyer of Myanmar’s black gram and pigeon peas. However, India’s pulses output this year dropped significantly so they eased import policy on pulses. India’s authorities are observing the market inventory to control the price hike.
The price of black gram (urad in India) was around Rs7,500 per quintal whereas pigeon pea (tur) fetched Rs8,200 per quintal in Chennai in April. India’s market observers forecast the price of urad is likely to spike at Rs 8,500 in the coming months. The growers in Myanmar are prepping to ramp up pigeon pea production tracking the rocketing price. — TWA/EM