Thursday, December 13, 2012

Bean price still falling despite demand from India

Thursday, 13 December 2012 00:00 Khin Myo Thwe

The Myanmar Pulses, Beans and Sesame Seeds Association has said that the price of beans and pulses is still in decline in Burma despite a high demand from India.

A Burmese worker fills a sack with beans. (Photo: Ye Min / Mizzima)

“The bean price is falling even though there is a strong demand from India,” said Kyi Soe, an experienced bean merchant in Rangoon. “The price of good quality green mung beans has remained stable, and other beans and pulses should do likewise, because of the market demand.

“However, the reason for the fall in price is because newly harvested beans in India are getting into the market,” he said. “Also, pigeon beans are being imported from Africa. Although India prefers Myanmar pigeon beans, they get a lower price from Africa. A ton of African pigeon beans is half the price of Myanmar pigeon peas.”

Meanwhile, black matpe beans are selling well, merchants say.

Win Naing, a bean merchant in Rangoon, said, “While matpe beans remain in the hands of merchants, there is a gap of 20,000 kyat (US $23.50) in the overseas market price. When they’re in the hands of wholesalers, the gap is just 5,000 kyat.
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