Prices of soybean, peanut drop in Mon State

0
136

Mawlamyine, December (1)

Mon State had reasonable pricing for beans and peanuts in early November, but right now, the price has plummeted from 6,000 kyats to 9,000 kyats per basket, the bean and pea traders told Than Lwin Times.

A basket of 20 viss of beans cost almost Ks 60,000 on November 1, but it had dropped to Ks 52,000 by November 30.

Similarly, the price of a basket of peanuts fell from 110,000 to 100,000 kyats.

According to a bean trader, the increased production of beans and peanuts in Bagu and other parts of central Myanmar has caused their prices to fall.

Prices for beans and groundnuts have fallen again, but with few festivals, demand remains low.

A bean trader said that the prices of beans and groundnuts have fallen due to a lack of foreign purchases and weak demand in the domestic market.

In Mon State, peanuts are grown as a winter crop in Kyaikmaraw, Chaungsone, Mawlamyine, Belin, and Kyaikto townships, and soybeans are grown in the rest of the townships except Ye.

However, since November 21, the Central Bank’s directive that 65 percent of export earnings be converted into Myanmar Kyat at the specified reference rate within one working day has made it difficult for businesses exporting pulses abroad.

The list of exports specified by the junta-controlled Central Bank includes pulses, oilseeds, corn, rubber, aquatic products, animals, and animal products.

On the other hand, the pulses growers have been unable to recover from the economic crisis due to the steep increase in the cost of fuel oil, agricultural inputs, fertilizers, and general expenses after the military coup.

News-Than Lwin Times

LEAVE A REPLY

Please enter your comment!
Please enter your name here