Bean Market: Export Declined Due To New Policy In India

6 July 2017

Export of beans and pulses to neighbouring country India is declining due to new policy on taxation for consumer products by the India Government.

The price of mung bean and green gram is decreasing as the export to India has been declined since after Thingyan, according to Vice-Chairman of Yangon Region Chamber of Commerce and Industry (YRCCI).

It is forecast that the export market continues to decrease as the Indian government has announced the new tax on consumer products, the Vice Chairman added.

Vice Chairman, YRCCI, Dr. Myo Lwin: As India government is now controlling the banking system in order to tackle the black money issue, most of the buyers dare not to buy beans and pulses. So the export is declining, and the price also decreased. Now in July, their government launched the new tax on consumer products and most of the bean merchants are not satisfied with this. So they are anticipating the possible situation without buying beans from us.

Myanmar exports 1.2 million tons of beans every year, and 80 % of them go to India while about 10 to 15 % to Europe and other Asian countries. 

On the other hand, the export of value-added beans goes stably to EU and other Asian countries, the Vice-Chairman said.

Vice Chairman, YRCCI, Dr. Myo Lwin: We mostly export raw beans to India. But the value-added one to EU and other Asian countries. We make it to be ready to eat. If we could make it qualified, we could get much price. As it has high demand in those countries, we don’t need to rely on the India market in bean export.

At present, the price of mung bean is 850,000 kyats per a ton and Green gram is 600,000 kyat which previously has over 1 million and 700,000 kyats respectively.