Maung-Bean-72

Myanmar earns over $242 mln from various pulses export from October to mid-December

Myanmar exported US$ 242.467 million worth of 291,229 tonnes of various pulses from 1 October to 17 December in the current mini-budget period (October 2021-March 2022), according to the Ministry of Commerce. During the period, 275,752.333 tonnes of various beans and pulses worth $229.955 million were exported via maritime trade routes and 15,477.517 tonnes worth $14.521 million via border trade routes.

During the FY2020-2021 ended 30 September, the export value of beans and pulses amounted to over $1.57 billion, the ministry reported. The Indian government signed a memorandum of understanding with Myanmar to import 250,000 tonnes of mung bean and 100,000 tonnes of pigeon pea through the private sector from 2021-2022 to 2025- 2026.

During the FY2019-2020, the country delivered 1.6 million tonnes with an estimated value of $1.195 billion, the ministry’s data showed. There are more than 11 million acres of plantations of beans and pulses. The black bean plantations are yielding around 400,000 tonnes annually in Myanmar. Besides, Myanmar has also produced about 50,000 tonnes of pigeon peas yearly. The black bean, which is mainly bought from India, is mainly grown in Myanmar. Other pulses, including green gram and pigeon pea, are grown in Africa and Australia in addition to Myanmar, according to Myanmar Pulses, Beans and Sesame Seeds Merchants Association.

Source: The Global New Light of Myanmar

Fuel oil price edges up on Kyat depreciation

The prices of fuel oil remained on the upward trend in the domestic market, tracking the Kyat weakening against the US dollar, the market’s data indicated. On 1 December, the prices stood at K1,250 for Octane 92, K1,300 for Octane 95, K1,230 for diesel and K1,240 for premium diesel, whereas it jumped to K1,340 for Octane 92, K1,390 for Octane 95, K1,315 for diesel and K1,325 for premium diesel. There is a price gap of K85-90 per litre within a month, according to the local fuel oil market.

The fuel oil price is highly correlated with the exchange rate. At present, the exchange rate is pegged at around K1,900 in the local forex market. When a dollar was valued at only K1,330 in early February, the fuel oil was estimated at K590 per litre for Octane 92, K610 for Octane 95, K590 for diesel and K605 for premium diesel in early February 2021 in the domestic retail market. Consequently, in a bid to steer the dollar rally in the local forex market, the Central Bank of Myanmar (CBM) sold US$88 million at its auction market rate in December.

Additionally, the Ministry of Commerce in coordination with the Myanmar Petroleum Traders Association carried out a scheme to distribute fuel oil at a fairer rate through the government-sponsored petrol station chains. The total volume of fuel oil that are sold at very cheap rates is equivalent to the amount that the oil importers directly purchased the foreign currency from the CBM. The CBM has directly sold $53.4 million to the fuel oil sector so far. Normally, Myanmar yearly imports six million tonnes of fuel oil from external markets, the Ministry of Commerce stated.

Source: The Global New Light of Myanmar

MoHS-1-mk

Second batch of Covishield vaccines purchased from India arrives at Yangon Int’l Airport

The Ministry of Health extensively conducts vaccination programmes in Nay Pyi Taw Union Territory and Regions/States according to the target groups. The 6.7 million doses in the second batch of Covishield purchased from India arrived at the Yangon International Airport yesterday, and the country received a total of 13.4 million doses of the vaccine.

These 6.7 million doses were received by the head of the Yangon Region Medical Services and Public Health Department. A total of 13.78 million people aged above 18 were fully vaccinated, while 5.37 million received first shots till 28 December. Therefore, inoculation covers more than 51 per cent of thepopulation as there are about 19.15 million people over 18 who were immunized more than one time. Moreover, the government launched vaccination for middle and high school students over 12 across the nation.

A total of 1.29 million students have been fully inoculated and 188,836 received their first shots. The Ministry of Health obtained 56.36 million doses of the vaccine 44.4 million doses of procurement and 11.96 million doses of donation. The government will continue the immunization processes accordingly to the target groups in 2022. The Ministry of Health urged the people to get vaccinated without fail and those who receive the first shots to have the second jabs on the due date or within the fixed period at the nearest vaccination sites and to participate in the processes actively.

Source: The Global New Light of Myanmar