India pre-orders Myanmar's fair average quality (FAQ) mung beans with the price of USD 1,400 per tonne

There have been pre-orders from Indian bean traders for Myanmar’s mung beans which will be harvested in February and March, according to an official from the Myanmar Pulses, Beans and Sesame seeds Merchants Association.

“They have pre-ordered fair average quality (FAQ) February and March Mung beans with the price of $1,400 per tonne, which is approximately K1.6-1.7 million,” said U Min KoOo, secretary of the Association.

Mung beans are planted in November and December and harvested in February and March in Myanmar.

For this bean harvesting season, many farmers who used to plant other types of beans have planted Mung beans, which is likely to cause a spike in Mung bean production.

Due to the increased production, there will be some variation in price. That’s why, all beans sale should be done with proper guarantee and recommendation by related departments, suggested beans traders.

“We will see a price rise for Mung beans. The Indian traders are getting a good price now through pre-ordering because they know the price would rise around harvest time,” U Min KoOo said.

Over 600,000 tonnes of Mung bean are produced every year in Myanmar, but last two years production was slightly over 400,000 tonnes. U Min KoOo said he expects the productions to jump this year.

There were some also some pre-orders for pigeon pea at about K1.5 million per tonne, although the latest price on the market was K1.8 million

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