Dollar crisis prompts Bean price hike in Mon State

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Mawlamyine, September (3)

During a year and a half after the military coup, the increased dollar prices and the low stock of beans in the country caused the price of beans to rise again in Mon State, the beans and sesame traders told Than Lwin Times. 

The price of black gram, which was only 55,000 kyats per basket in early August, rose to 66,000 kyats in early September, while the price of soy beans has soared from 50,000 kyats to 60,000 kyats per basket.

The prices of green gram, bocate and black-eyed pea keep going up depending on the variety.

With the significant growth in the prices of agricultural inputs following the military takeover, the price of soybeans surged along with the value of the dollar, beans and sesame traders said.

India continues to purchase soybeans from Myanmar despite the fact that domestic demand is somewhat declining as bean prices go up.

The price of beans may increase once more in the upcoming months due to a lack of storage in the country, according to bean and sesame traders.

Mon State mainly grows black gram, green bean and soybean, producing tons of beans every year, which are mainly exported to India, Pakistan, Nepal and Singapore. News – Than Lwin Times

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