Black gram worth K9.36 bln transacted in second week of September

 

BETWEEN 1 and 15 Sep­tember 2022, 195 con­tainers of black gram (FAQ/RC) (4,680 tonnes) were traded with an estimated value of K9.36 billion.

On 15 September 2022, the price of black gram (FAQ /RC) inched higher to over K2 million per tonne and pigeon pea (red gram) was priced at K2.1 million per tonne.

Despite the price rise, 40 container loads of black gram (960 tonnes) were transacted, according to daily market data.

The prices of black gram and pigeon peas are fluctuat­ing every day. The black gram prices moved at K1,953,000 per tonne on 30 August, K2.1 mil­lion on 31 August, K1,953,000 on 6 September, K2,035,000 on 10 September and K1,985,000 per tonne on 14 September re­spectively.

Similarly, the prices of pi­geon pea (red gram/RC) stood at K2,150,000 per tonne on 1 September and then fell to K2,040,000 on 8 September. The price regained to K2,115,000 per tonne on 15 September.

When the pulses require­ment for consumption by the main buyer India grew in 2015, the black gram price hit only K1.4 million per tonne. The mar­ket price recorded in mid-Sep­tember 2022 is K600,000 higher than that of 2015. However, the black gram price reached an all-time high of K2,456,000 per tonne in mid-October 2015.

In mid-September 2022, the FOB price of the black gram FAQ is US$795-815 per tonne only. As a result of this, India’s demand is a main contributing factor to the price rise of black gram, Ko Thet, a trader, said.

Black gram is cultivated as intercrop after the harvest of monsoon paddy. It is mixed with chilli pepper and summer paddy.

According to a Memoran­dum of Understanding between Myanmar and India, India will import 250,000 tonnes of black gram and 100,000 tonnes of pi­geon peas (tur) from Myanmar for five consecutive years from the 2021-2022 financial year to the 2025-2026FY. Although the prices of agricultural inputs (fuel oil and fertilizer) are rock­eting, the black gram growers can reap a great profit on ac­count of the high price in domes­tic markets and strong foreign market shares.

TWA/GNLM

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