What Are the Factors That Determine the Prices of Mung Beans?

Here are factors that affect the price of mung beans:

• Mung beans were affected by export. For example, Myanmar's mung bean price depends highly on India's imports.
• Financial crisis: Farmers are forced to sell the products immediately after harvest when the price is lower due to a glut in the market.
• Lack of information: Farmers do not follow other markets.
• Storage: Some farmers do not have good storage, and the products deteriorate over time, the price goes down. But other farmers collaborating with regional traders using adequate storage can sell at a reasonable price.
• Transportation: Transport fee and delivery time markup the price of products.
• Production of pulses: Production may be affected by weather conditions, insect and pest attacks, and high or low rainfall. When production is down in that year, but the demand is still there, the price will rise.
• Labor Resource: Over the years, people migrate to the cities where the villages’ total labor keeps going down. Farmers need to hire from other villages and pay more. The overall price goes up.
• Production Volume from other countries: World mung bean prices are primarily determined by the volume of production and quality of the crops in China and Burma, and as a result, are continually responding to supply issues in these exporting countries.
• Grading: Processing grade is a broad classification for lower quality beans. Prices can vary by as much as USD 150 per Tonne depending on appearance and quality, i.e., whether good or low-quality processing grade.