India's Black Gram Bean Prices Skyrocket 43.67% YoY in W52 Amidst Supply Shortages

In W52, Black Gram bean prices in India increased by 43.67% YoY. Despite a slight decrease MoM and WoW, 2023 prices remained higher than in 2022, peaking in W32. Urad dal prices rose due to lower stocks, reduced sowing, and less supply from Myanmar, exacerbated by Indian farmers shifting to high-value crops. Importers reportedly hoarded 550 thousand mt of pulses in Myanmar, causing a 20% YoY decline in urad imports to 340 thousand mt from Jan-23 to Apr-23.