Myanmar: Bean prices up on Indian demand

Myanmar: Bean prices up on Indian demand

Monday, 08 August 2016 – Indian demand for Myanmar mung beans has caused prices to jump by more than 10 percent over the past three days, while prices for other beans have also risen, exporters said.

The price of matpe has risen from K1.57 million per tonne to K1.74 million per tonne since the end of last week, said exporter U Min Ko Oo.

He did not know why demand from India, Myanmar’s largest export market for beans and pulses, had suddenly surged.

“In July, demand was low and prices were stable,” he said. “I do not know why it is suddenly so strong – the news would suggest that Indian bean farms are doing well and I have not heard anything about farming problems [in India].”

The price jump is not linked to flooding in Myanmar, either, he said. “Flooding has made things difficult for farmers, but have not impacted the beans sector, because we don’t farm beans until September.” Read More?