Black gram price rally continues up to over K2.9 mln per tonne

The upward trend of black gram prices persists up to over K2.9 million per tonne, which is a new peak in the market.
The black gram price stood only at K2.465 million per tonne on 3 October and jumped to K2.918 million per tonne on 27 October, indicating a sharp rise of over K450,000 per tonne within four months.
The FOB prices of black gram were US$955-975 per tonne on 3 October and increased to $1,045-1,065 per tonne, according to Yangon Region Chambers of Commerce and Industry (Bayintnaung Wholesale Depot).
Meanwhile, the pigeon pea price stayed the same on the high side with K4.075 million per tonne.
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 which India primarily purchases are commonly found only in Myanmar, whereas pigeon peas, green gram and chickpeas are grown in African countries and Australia, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association said. — NN/EM