The prices of black gram and pigeon peas are expected to continue an upward trajectory, according to the Ayeya Trade Convention Centre.
A surge in black gram prices persists in the main supplier Ayeyawady Region. The black gram fetches around K95,000 per basket. The price continued rising in the last week of December.
Additionally, Myanmar’s black gram yield is estimated at 650,000-700,000 tonnes for this season. India’s pulses output dropped more than expected due to erratic weather in India, prompting them to import from abroad. Myanmar and India have signed a Memorandum of Understanding to purchase 2.5 million tonnes of Myanmar’s black gram (urad) in the 2023-2024 financial year.
India also imports the urad from Brazil. Yet, there is a requirement to meet the growing demand from the domestic market. If so, the price is likely to go up. The black gram is expected to be offered around K90,000 per basket in the upcoming harvest season, according to a report by the ACC.
The pigeon pea price remained stable at K3 million to K3.1 million in the third week of December 2023. The price went up a bit in the first week of January. India has low stocks of pigeon peas. Subsequently, India’s government offered incentives to the growers that they will buy the pigeon pea (tur) at a higher price than the Minimum Support Price (MSP). This action aims to increase the acreage of pigeon peas. Imports of Myanmar’s pigeon peas are bound to happen in January, as per the reports of India’s new agencies.
India has inked an MoU with Myanmar to buy 100,000 tonnes of pigeon peas. Myanmar’s pigeon pea production is approximately 250,000-300,000 tonnes per year.
Thus, pulses traders forecast that pigeon pea prices are likely to move onwards on the back of strong demand.
The prevailing prices stood at K2.987 million per tonne of black gram and K3.275 million per tonne of pigeon peas in the domestic market. — NN/EM
