Thursday, 14 November 2019

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Downward trend in gram prices

Mizzima (Chiang Mai) – Low demand and higher yield has pushed down the price of 'gram' significantly in the market.  

The price of gram fell to Kyat 17,500 (approximately 16$) per basket from Kyat 18,500 in the middle of August. The price usually increases during this period but the demand is falling this year, bean and pulse traders said.  

"Export demand has fallen this year. Usually both ground and un-ground grams are bought in the export market because this is the Islamic Ramadan lent period. Another reason is the high yield of gram in Burma," a bean and pulse wholesale trader told Mizzima.  

A bean and pulse brokerage firm owner from Pyi Township, a centre for beans pulse trading, said the slump in sales in the domestic market also resulted in the price going down.  

"The output of ground pulses has fallen. Another reason is the fall in export market demand. This year there is no market transaction by exporters. The next reason is sluggish sale in the Rangoon market," he said.  

Bean and pulse traders, who stored for buffer stock operation with deferred payments, are also incurring losses, he added.  

"They bought these goods on deferred payment at pre-fixed prices. They had to pay the pre-fixed price on maturity. With the price having fallen they have to pay extra money from their pocket. They have no choice," he said.  

Bean and pulse producers from major producing areas like Magwe, Aung Lan, Min Don and Sin Paung Wei will shift to another crop during the next winter season if the price falls further this season.   

Exporters usually stock beans and pulses as ready cargo for export in this Ramadan Islamic lent period from August 20 to September 20. Major buyers in this holy lent period are India, Pakistan, Bangladesh and Middle East countries.


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