Myanmar: Compared to last week, the prices of crops have fallen

Published Jun 7, 2024

Tridge summary

The article reports a decrease in the price of March pea after a rise due to currency exchange rate control by the government. The government's control of the dollar price and the upcoming Indian election have influenced the market. The Indian government's forecast of a 6% decrease in bean production for the 2023/2024 crop also affects the market, with demand expected to continue despite falling prices in India and Myanmar. Other agricultural commodities such as wheat, soybeans, and red beans are also experiencing price changes due to various factors.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

March pea, which had been continuously rising in price for the past month, began to fall in the first week of May. After the price rise due to the currency exchange rate, the government controlled the dollar price, and within a week, bean prices fell again. According to some traders, there are transactions in the market but they are keeping watch due to the financial price situation. Since the election in India has ended, it is also a situation to watch how the incoming government will control the rising price of beans. However, the third preliminary forecast for the 2023/2024 crop yield released by the Indian government is that the production rate of beans has decreased by about 6 percent compared to last season, and the output of mungbean was 2.91 million last season Now, according to the estimate, 2.63 According to the reports of Indian newspapers, India's demand will continue, so mung bean will be exported to Myanmar, Brazil, and other countries. Argentina is also trying to ...

Source: Greenwaymyanmar