Mawlamyine, February (7)
With the increase in demand for beans from China, a basket of green gram (Shwe Wah) has risen to a record high of almost 70,000 kyats in Mon State, the bean traders told Than Lwin Times.
The price of green gram (Shwe Wah) rose to a record high of 69,000 kyats per basket on February 6, from only 47,000 kyats per basket in the last week of January.
The prices of green gram (Shwe Wah) have continued to rise due to the devaluation of the Myanmar currency, high demand for beans from China, and the world’s food demand, a supplier said.
China has a high demand for soybeans, but the yield is still low, so there is not enough to export.
About 70% of the country’s exports of green beans are purchased by China, with the remaining 30% being traded by some countries, like India.
However, after the military coup d’état, bean farmers are facing a significant increase in input costs, including fertilizers, and a delay in bean planting due to the rains, resulting in a significant decrease in yield.
Mon State has more than 50,000 acres of beans and peas, of which green gram (Shwe Wah), black gram, and soybean are mainly grown. Depending on the weather and yield, the annual production of beans and pulses is between 2,700 and 3,200 tons.
News-Than Lwin Times