Myanmar's mung bean prices climb to highs

Dried Mung Bean
Myanmar [Burma]
Market & Price Trends
Published Jan 25, 2024

Tridge summary

In January 2024, mung bean prices in Myanmar's Bago Province surged with no signs of decreasing. The cost for 20 tons of mung beans rose from 60,000 kyats to 72,000 kyats due to a reduction in stocks and high bean quality. The prices are predicted to continue rising due to strong export demand and pending agreement quantities. Mung beans, part of the pulses category, represent the second largest agricultural product in Myanmar, accounting for 33% of total agricultural production.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Myanmar media reported that bean merchants in Bago Province recently revealed that in January 2024, the price of mung beans had climbed to a high level again, and there are currently no signs of decline. ​ A bean merchant in Bago Province explained in detail that the price of 20 tons of mung beans was previously about 60,000 kyats, but since January 2024, the price has risen to 72,000 kyats, marking the return of mung bean prices to highs. Bean merchants believe that the main reason for the price increase is the reduction of mung bean stocks, and high-quality mung beans are also one of the factors pushing up prices. ​ Myanmar mung beans must meet specific quality standards when exported. Another bean merchant pointed out that according to the current market conditions, the price of mung beans does not seem to have a downward trend, but may continue to rise. This is because export demand continues to be strong, and The quantity to sign an agreement has not yet been reached, ...
Source: Foodmate
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