CNI News
2 Nov 2022
India has raised the maximum support price for pigeon pea imported from Myanmar and other countries from more than US$ 800 to US$ 965 per ton.
Raising the MSPs of pulses and beans in India tends to increase prices in the Myanmar pulses and beans market, In-charge U Nay Win Soe of Aya Trade Centre told the CNI.
He said, “They set the maximum support price yearly. They have raised the MSP for pigeon pea this year. Normally, pulses and beans prices in Myanmar rise when the MSPs are raised. It will be beneficial for farmers in Myanmar.”
However, prices of pulses and beans in Myanmar have dropped and the market has been sluggish due to an instruction issued by the Department of Trade, which requires merchants to export value-added products from pulses and beans.
Inspection of pulses and beans.
He told the CNI, “Pulses and beans prices have dropped recently. The Department of Trade issued an instruction to export value-added products from pulses and bean and prohibit the exports of raw pulses and beans. At least, we will need to process pulses and beans. So, the market has been sluggish. We haven’t discussed the matter with our Indian counterparts yet.”
As pulses and beans harvested in India have entered the market at present, the demand for Myanmar pulses and beans has shrunk. Therefore, the exports of pulses and beans from Myanmar dropped in October.
When pulses and beans stocks in India are low, prices in the Myanmar pulses and beans market are likely to rise. Currently, merchants are watching the situation due to the requirement to export value-added products.
