India will buy 150,000 tonnes of jute, raising domestic prices in Myanmar.

In the domestic market, 150,000 tonnes will be bought from India, raising prices slightly.India will buy 150,000 tonnes of jute, raising domestic prices in Myanmar. Due to heavy rains in India and the destruction of jute fields, Myanmar has definitely started importing pulses since September 20. The price of a bag has risen by 5,000 to 10,000 kyats in a week.

The fluctuation of the price of pulses belongs only to india, said Myo Swe; vice chairman of the mandalay brokers’ association. The Indian government announced on October 1 that it will allow the import of 150,000 tonnes of pulses by March 31 2021.

Rising bean prices due to the increase in cultivation , the price of jute seeds has also risen to about 120,000 kyats per bag. After the news that india was going to buy, the prices went up. It used to be around 100,000 but now it is around 120,000, said U Kyaw Twin, owner of Shwe Sin Thein.

At present, a basket of pureed beans is being sold for 40,000 kyats, and the price of pureed jute bean is 2,000 to 3000 kyats more than unrefined romaine beans and at present it is 37,000 kyats per basket.

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