Turkmenistan: A Promising New Supplier of Mung Beans

Dried Mung Bean

South Korea

Published Apr 23, 2020

The demand for mung beans is on the rise, and Turkmenistan, with optimal climate conditions and a considerable price advantage, is a promising new supplier of the crops. The Economic Society "Yigit", a veteran supplier of various crops and vegetables, is aiming to expand its mung bean exports to major markets China, Japan, and South Korea.

There has been a growing interest in mung beans in the international market due to their health properties such as antioxidants that help reduce cholesterol levels as well as richness in potassium and magnesium which aids in lowering blood pressure. The crops are mainly consumed in East Asia and Southeast Asia, especially in India. Although Turkmenistan is not a big supplier of mung beans, it is a promising market that is able to accommodate growing global demand, explains The Economic Society "Yigit".

Harvest for 2020 Expected to be Optimal

Mung beans are best grown in warm and dry climates, requiring at least eight to 10 hours of sunlight each day, readily cultivated in Turkmenistan’s arid summers which are strikingly hot and sunny. The harvest starts in June and lasts until September, although the crops can be stored and purchased year-round. Due to good weather conditions this season, The Economic Society "Yigit", a supplier of mung beans and tomatoes based in Turkmenistan, is expecting a moderate harvest this season of 2000 metric tons.

Although a relatively new product, mung beans in Turkmenistan have shown exceptional quality due to stable weather conditions during recent years. The Economic Society "Yigit" is planning to utilize their 12-year expertise in cultivating various types of vegetables and 2000 ha production site to infiltrate this niche, growing market and increase their yearly production volume by 10%.

Exports to Increase to Asian Markets

As most of the products are consumed in Asian markets, The Economic Society "Yigit"’s export focus is on South Korea, Japan, and China, for which the latter two are the third and fourth-biggest importers accounting for approximately 27% of the worldwide import share. While there is projected to be a decrease in export volume this season due to coronavirus concerns, The Economic Society "Yigit" plans to export 60% of its production this season with the rest sold in the domestic market.

Priced at USD 850-950 per ton according to The Economic Society "Yigit", Turkmenistan mung beans have a considerable price advantage in the global market. Imported mung beans from China and Myanmar are sold at approximately USD 2,380 per ton in the Japanese market. Wholesale prices in East Asia and Southeast Asian countries also range from about USD 1080 per ton to USD 3916, with East Asian countries such as South Korea witnessing the highest prices in the domestic market.