A high level decision from the Indian government has made plans to import more pulses from Myanmar and to release a buffer stock in order to open the market as food prices in India climb, according to the Economic Times.
India is the largest buyer of beans and pulses from Myanmar, around 70% of Myanmar’s total exports went to India this financial year. However, demand from China and Viet Nam is expected to surge past India soon. Myanmar generates around US$1bn from exporting beans and pulses annually.
Myanmar is expected to ship over 10,000 tonnes of green gram to European markets this financial year, a spokesperson from the Myanmar Pulses, Beans and Sesame Seeds Merchants Association said.
It is estimated that the export of pulses is likely to increase in the future as the EU has officially accepted exports of pulses from Myanmar.
With reduced demand from Indian merchants, local pea merchants and pea growers are bracing for the difficulty as the local price has dropped to K300,000 (US$250) a tonne last harvest.
Source:The Global New Light Of Myanmar
