High demand for chickpea in China and India has caused the price of peas, beans and pulses to rise in Myanmar, according to traders.

Even though peas and beans are abundant during this season, prices have continued to skyrocket, said U Soe Win Myint from a broker’s sales centre with the same namesake.

“Usually prices are low during this time since the peas are abundant.

“But the high demand from the Chinese and Indian markets this year have caused prices to go up,” he said.

The types of chickpeas in high demand now are the V2 and V7 white chickpeas.

A bag of white chickpea previously cost about K120,000, but now the price is gradually rising. On March 17, the price of a bag of chickpea weighing 57.25 viss (about 93.5kg) was selling up to K128,000.

U Soe Win Myint said prices would likely continue to increase.

“The prices of these two types catapult every day. This is the first time we are experiencing this trend. The demand was stable in previous years.”

U Soe Win Myint said even internal issues and conflicts in Myanmar was not affecting the rising prices.

“Before this, even traffic jams or some other local problem in Mu Se would cause the prices to decrease.

“A few days ago, there were some conflicts in Muse and Laukkai between ethnic armed groups and the Tatmadaw, but the prices of chickpea still went up.

“The Chinese and Indians are buying them. Prices continue to change every day. The rising prices are good for farmers,” U Soe Win Myint said.

He added that there were other beans in demand for domestic consumption but only white chickpeas were undergoing drastic price changes.

U Kyi Maung, from Mya Thazin broker center and oil-factory, said the high demand was because Chinese traders were coming everyday to buy the peas from Mandalay brokers, merchants, factories and Maha Kathina associations.

“I think the prices have gone up the highest this year. Previously, only the local Chinese bought the peas.

“This year, we are getting high demand from China and India. Foreign Chinese nationals are also coming to buy chickpeas – there are 10 to 15 of them coming daily,” he said.

 

– Translation by Kyaw Soe Htet