Export policies relaxed! Prices of Myanmar's black wheat beans and red kidney beans soar in response.

It is understood that starting from January 8, the proportion of export revenue converted into Myanmar Kyat according to the central bank's regulations was relaxed from 25% to 15%, after which the prices of black gram and red gram in the domestic bean market began to rise continuously. Moreover, during this period, the quantity of new-season black gram and red gram entering the market is relatively small, and coupled with the hoarding by domestic traders and strong demand from abroad, these factors have also contributed to the price increase. Wu Suo Wen Mao, an advisor for the Myanmar Multiple Beans, Corn, and Sesame Traders Association, said, "After the reduction in the proportion of export revenue converted into Myanmar Kyat, traders can pay a better price for purchases. This essentially redistributes a portion from the traders' profits. The prices started to rise after the relaxation of the export revenue policy. Recently, there has been a slight easing, showing a fluctuating trend. Foreign demand still exists. Currently, the supply of beans is still low. It is understood that the yield of red gram is also low." Currently, the price of black gram FAQ grade is 287.5 million Myanmar Kyat per ton; the price of old red gram (2025 crop) is 291 million Myanmar Kyat per ton. The price of the new red gram for the 2026 crop is 303.7 million Myanmar Kyat per ton. In comparison, on January 7, the price of black gram FAQ grade was 273.7 million Myanmar Kyat per ton; the price of old red gram (2025 crop) was only 265 million Myanmar Kyat per ton. The price of the new red gram for the 2026 crop was only 278 million Myanmar Kyat per ton. Therefore, within approximately 17 days after the relaxation of the export revenue policy, the price of black gram per ton increased by about 14 million Myanmar Kyat. Similarly, the price of old red gram (2025 crop) per ton increased by about 26 million Myanmar Kyat, and the price of the new red gram for the 2026 crop increased by over 25 million Myanmar Kyat. A person in charge at Xingshida Commodity Exchange said, "The main reason is the relaxation of the export revenue policy and the fact that the large-scale listing of beans has not yet arrived. Currently, the number of beans entering the exchange is still small. It is expected that a large-scale listing will occur around February and March. Currently, the quantity is still not large. Traders are also starting to hoard, and India is also purchasing, so there is demand but insufficient supply, leading to a price increase." Currently, new-season black gram from Irrawaddy Division, Bago Division, Rakhine Division, and Yangon is starting to enter the market. Red gram is mainly coming from the upper Myanmar region, primarily from Mandalay Division. It is understood that in Magway Division, red gram is about to enter the harvesting season. Black gram and red gram are typically harvested and dried in February and March in various regions. This year, due to the increased costs of planting and harvesting black gram and red gram during the cold season, farmers have stated that the price per basket needs to be at least 10 million Myanmar Kyat to sustain themselves. Currently, black gram and red gram are mainly exported to India in the largest tonnage. According to the memorandum of understanding (MOU) between the two countries, the permit for duty-free and freely imported black gram and red gram to India will expire on March 31 this year. It is understood that the two governments are currently in discussions to extend the MOU period and increase the tonnage of black gram and red gram that can be exported.