According to the bean traders, the farmers should grow more black beans and pigeon peas because the prices of beans are likely to rise higher continuously till the next year because of high demand from India. Next year, we should cultivate more black beans and pigeon peas. These beans need to have fewer inputs and pesticide. Now, these black beans and pigeon peas are likely to fetch a good price until next year. India has also demanded an import bean quota of 400,000 tonnes. At present, the country has around 250,000 tonnes of bean stocks. There will be a high bean demand in advance until the following year.
So, the bean price is expected to rise next year. The price will be much higher than this year. That is why farmers are urged to give priority to grow more black beans and pigeon peas, Vice-Chair U Chone of the Mandalay Commodity Depot elaborated. After harvesting paddy, the black beans are grown in October, November and December. The black beans are grown chiefly in Bago and Ayeyawady regions. The upper parts of Mandalay and Magway regions also grow a few acres of black bean. The pigeon peas are also cultivated across the country and produced mainly in central Myanmar.
The prices of black beans and pigeon peas are dependent upon the demand of India. In 2017-2018FY, India produced sufficient beans for their country. Thus, the price of Myanmar bean dropped to K97,000 from K120,000 in 2015. Since 2017, we are now seeing the lowest price of Myanmar bean. A bean bag containing three baskets was sold for K25,000 or 30,000. Last year, climate change in India destroyed their pulses plantations. Therefore, India is buying Myanmar beans, especially the black beans and pigeon peas, he added. On 28 May, the prevailing price of black bean is ranging K100,000-K130,000 per 60 visses while the pigeon peas are pricing around K86,000-K95,000 per 60 visses, according to the Mandalay Commodity Depot.
Source: The Global New Light of Myanmar