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Mumbai, August 4 (CommoditiesControl): Myanmar's beans and pulses exports have decreased by 13.42 percent year-on-year, amounting to over 424,187 tons during the first quarter of the 2023-24 fiscal year, according to data released by the Ministry of Commerce on Friday.
Between April 1 and June 30, Myanmar generated more than $333.46 million USD from the export of beans and pulses, a reduction compared to the $369.813 million USD earned from exporting over 489,985 tons in the same period last year, the ministry's figures show.
Myanmar exported more than 20 types of beans and pulses, including black grams, green mung beans, chickpeas, red kidney beans, and butter beans, to countries such as China, India, and European countries.
U Ye Lin Tun, a beans and pulses exporter, said, "Exports of beans and pulses slightly decreased this year as our price is a little bit higher in the foreign market. Black gram and green mung beans are Myanmar's top exported beans and pulses. Black grams were exported to India, and green mung beans were exported to China."
The Central Bank of Myanmar has recently relaxed its foreign currency rules, allowing exporters to convert just 50 percent of their earnings, as opposed to the previous 65 percent, into local currency kyats with the central bank's reference exchange rate. However, the impact on the export of beans and pulses has so far been slight.
The central bank's reference exchange rate was at 2,100 kyats per U.S. dollar on Friday, while local currency exchange counters offered rates of around 3,000 kyats per U.S. dollar.
"We will be able to increase our export volume by enhancing the production of beans and pulses. Therefore, we are cooperating with relevant organizations to boost production," U Min Min, permanent secretary of the Ministry of Commerce, said.
According to the ministry's data, about 87 percent, or over 369,237 tons, of beans and pulses were shipped via sea routes, while the remaining 13 percent, or over 54,950 tons, were transported through land borders during the three months.
The Myanmar Pulses, Beans, Maize, and Sesame Seeds Merchants Association report that green grams and black grams are the most commonly cultivated beans and pulses in Myanmar, accounting for around 60 to 70 percent of the country's total beans and pulses production.
In the 2022-23 fiscal year, Myanmar exported more than 1.91 million tons of beans and pulses, including over 691,399 tons of green grams, the ministry's figures showed.
(By Commodities Control Bureau; +91-9820130172)
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