Plan is under way to sign the G-to-G agreement with India to buy bean at a guaranteed price, according to the Ministry of Commerce.

Min Ko Oo, Secretary of Myanmar Bean and Pulses and Sesame Merchants Association said: “The commerce ministry will lead the G-to-G agreement. Officials of Myanmar Bean and Pulses and Sesame Merchants Association, brokerage centers and those who represent farmers will hold in-depth discussions.”

Bean prices are cool in the local market as Myanmar exports large volume of beans to the Indian market, bean prices are cool even  in the Indian market and there is a slight currency appreciation, he added.

The price of Mung bean (FAQ) has decreased from about Ks one million in late November to about Ks 820,000 per ton.

In replying to the question raised by Lower House MP Cho Cho from Ottwin Constituency at the session of lower house parliament on November 28, Aung Htoo, Deputy Minister for Commerce said effort was being made to sign the G-to-G agreement with India. Negotiation will be made with India to sell bean from Myanmar at a price comprising production costs plus 30 per cent. Some merchants don’t agree to it. They want to sell beans at the market prices.

Currently, bean prices are higher than per-acre production costs. The price of green gram reaches about Ks 1.2 million per ton, pigeon pea, about Ks1.2 million per tons and Mung bean, about Ks 800,000.  The bean prices may be lower than the current prices under the G-to-G agreement. Farmers may survive if the bean prices have declined to Ks300,000 per ton. The association is searching for the new markets in China and other countries.