Black bean, pigeon pea prices soar on Indian demand

August 10


Indian demand for Myanmar black bean and pigeon pea has caused prices to jump more drastically than in the past year, according to the Yangon bean market.


On 9 August, the black bean FAQ/RC was priced at K1,787,000 per tonne and K1,870,000 per tonne of pigeon pea Red/RC. The FOB price on 9 August was US$830-850 per tonne of FAQ black bean, $980-$1,000 per tonne of SQ, and $865-$880 per tonne of FAQ pigeon pea.


On 9 August, the prices of the bean rose by K119,500 for black bean RC, K174,500 for SQ/RC and K257,500 for pigeon pea RC.


Due to the low black bean production rate in India this year, it has to rely on Myanmar’s SQ black bean, according to the Indian bean market.


Myanmar has 5,589,000 hectares of crop plantations while the rice plantation covered 1,970,200 hectares of farmlands (36 per cent of nationwide plantation) and 8,499,000 hectares of beans and pulses plantation (15 per cent) in 2007-2008, and in 2011-2012, the rice cultivation was 1,876,200 hectares (33 per cent) and beans and pulses cultivation was 9,186,000 hectares (16 per cent). The bean cultivation rate increased year on year.


The bean plantation rate in Myanmar is six million acres in the middle part, four million acres in the delta region and about one million acres in coastal and hilly regions.


In 2021, the country exported $1,324.27 million worth of 1.75 million tonnes of beans and pulses. It also exported over 550,000 tonnes of beans and pulses worth $426 million in the first four-month of the 2022-2023FY.


Therefore, the Indian demand and amount of foreign income from beans and pulses export of this year might surge than previous years despite the increasing bean prices. — TWA/GNLM