Pigeon pea prices resume upward trend in three weeks

The pigeon pea price on 22 January was K3,650,000 per tonne, compared to K3,235,000 per tonne on 1 January. Therefore, according to information from the beans and pulses market, the pigeon pea price increased by K425,000 per tonne within three weeks.
The rise in pigeon pea prices results from high turnovers in the market. The pigeon pea price set a record on 8 September 2023, reaching K4,150,000 per tonne in the beans and pulses market.
Myanmar exports three central beans and pulses: black gram, green gram, and pigeon peas. Black gram and pigeon peas are mainly exported to India, while China and European countries primarily purchase pigeon peas.
India, Myanmar’s primary buyer of black grams and pigeon peas, has a high demand for beans and pulses. Thus, Myanmar and India signed a Memorandum of Understanding (MoU) for cooperation in trading black gram and pigeon peas with a government-to-government (G2G) agreement on 18 June 2021.
According to the MoU, India expects to buy 250,000 tonnes of black grams and 100,000 tonnes of pigeon peas from Myanmar annually through the private trade channel for five financial years (from 2021-22 FY to 2025-26 FY). Additionally, Myanmar bean exporters will be included in the annual quota of black bean imports as notified by India following the G2G agreement.
Myanmar exported over 1.1 million tonnes of various beans and pulses within nine months of the 2023-24 FY, generating more than US$978 million, according to statistics released by the Ministry of Commerce. In the 2022-23 FY, Myanmar earned US$1,470 million from exporting over 1,900,000 tonnes of various beans and pulses. — NN/TMT