Myanmar black beans and pigeon peas prices fall as foreign exchange falls

Myanmar media reported recently that due to the decline in foreign exchange rates and the weakening purchasing power of India, the prices of black beans and pigeon peas continued to fall. These two bean crops are mainly sold to the Indian market. Recently, the continued fluctuation of the US dollar exchange rate has had a significant impact on the bean export market. Specifically, in the last week of October, the price of black beans remained at a high level of more than 3.8 million Myanmar Kyats per ton, but by November 13, its price had fallen to 3.57 million Myanmar Kyats per ton. At the same time, the price trend of pigeon peas also showed similar fluctuations. After the price rose to more than 431,000 kyats per ton, as the US dollar exchange rate fell, the price of pigeon peas also fell to about 387,000 kyats per ton. According to statistics, in the first seven months of the 2024-2025 fiscal year (i.e., from April to October), Myanmar exported a total of ...