Pigeon pea price up by K1.7 mln per tonne on 19 Aug

The price of pigeon peas (also known as red gram, tur) increased by K1.7 million per tonne on 19 August compared to last year’s price.
Only 25,000 tonnes of pigeon peas are in stock. Meanwhile, the demand from Indian buyers is increasingly high. Approximately 350,000-400,000 tonnes of black gram (urad) are expected to be available in Myanmar, India’s pulses industry forecast.
The prices of pigeon peas hit K3.65 million per tonne on 18 August and K3.675 million per tonne on 19 August. The prices stood at K1.96 million per tonne on 18-19 August 2022. The prevailing market price indicated a tremendous rise of K1.7 million per tonne from last year.
In the third week of August 2023, the pure gold price is gaining in the grey market. Kyat is also weakening against the US dollar in the unofficial market.
The pigeon pea is cultivated in May in the central Myanmar regions. Newly harvested pigeon peas usually enter the market at the end of the year.
Before the growing season, the price touched a high of K2.4 million per tonne in the post-Thingyan period (late April). The growers expanded the plantation this year. The yield is estimated at 250,000 to 300,000 tonnes this season. Along with the rise in pigeon pea prices in the domestic market, the FOB price also increased to US$1,180-1,200 per tonne on 19 August from $1,160-1,180 per tonne. — TWA/EM