Domestic, foreign demand for Heirloom bean, Ricebean drives price up

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Despite the various pulses market cooling down during the COVID-19 crisis, heirloom beans and rice beans (Vigna umbellate) are selling well in Mandalay market as both domestic and foreign demand has risen, Mandalay bean traders said.

 

Earlier, the market of those beans was cool in the early outbreak of COVID-19. In recent days, the market raises its head again on account of China’s strong demand for butter beans and heirloom beans, Mandalay traders.

 

The heirloom bean was worth K60,000 per three-basket bag during the early harvest time in March. In the third week of November, the price of heirloom soared to K85,000 per bag. Similarly, the cost of rice bean increased from K60,000 to K73,000 per pack at present, Soe Win Myint, depot owner from Mandalay said.

 

“We are delighted with the active market of heirloom bean and rice bean when the market of other bean varieties is slowing down. Thanks to the high demand for heirloom bean by China, we are running out of the stock. Furthermore, rice beans are highly demanded by India and China. The growers with a large stock of heirloom beans and rice beans are earning a healthy profit this year,” he said.

 

Those winter crops have only one growing season. They are harvested in March. It is a lucrative crop with low input cost, he continued.

 

As the heirloom beans have market potentials, the growers are interested in extending the growing acres.

 

The Ricebeans are primarily cultivated in Sagaing, Magway and Mandalay. Pakokku, Myitchay and Madaya towns produce good-quality beans. — Min Htet Aung (Mandalay sub-printing house)

 

(Translated by Ei Myat Mon)