Myanmar’s export of beans is expected to earn more foreign currency than expected

Dried Common Bean

Myanmar [Burma]

Regulation & Compliances

Market & Price Trends

Published Feb 21, 2024

Tridge summary

Myanmar's bean exports have generated US$1.08 billion in foreign exchange in over 10 months of the 2023-2024 fiscal year, according to the country's Ministry of Commerce. The revenue is expected to surpass the target of 1.6 billion U.S. dollars for the fiscal year. The primary markets for these exports are India, Malaysia, Indonesia, Vietnam, Singapore, and EU countries. Beans are the second most produced crop in Myanmar, contributing to 33% of the agricultural output and covering 20% of the agricultural planting area.

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Original content

According to Myanmar’s Ministry of Commerce, within more than 10 months of the 2023-2024 fiscal year, beans were exported and earned US$1.08 billion in foreign exchange. In the 2023-2024 fiscal year, the target revenue from bean exports is about 1.6 billion U.S. dollars. Businessmen estimate that the revenue from bean exports this fiscal year is expected to exceed the target. In the 2022-2023 fiscal year, about 2 million tons of beans were exported, earning US$1.47 billion in foreign exchange. The beans grown in Myanmar are mainly exported to India, and then also to Malaysia, Indonesia, Vietnam, Singapore and other countries. EU countries also purchase from Myanmar. It is said that India and Myanmar signed a memorandum of understanding for India to purchase and import 250,000 tons of rye beans and 100,000 tons of pigeon peas from Myanmar. Across Myanmar, pulses are the second most produced crop in agricultural production, ...

Source: Foodmate