MT News
As India has extended the free import deadline for Myanmar mung bean and pigeon pea until 31 March 2023, Myanmar has freely exported them to India, according to a statement from the Ministry of Commerce.
The two governments signed a memorandum of understanding (MoU) on mung bean and pigeon pea trade cooperation between Myanmar and India on 18 June 2021 under the G to G program.
Under the MoU, India will import a total of 350,000 tons of pulses from Myanmar, including 250,000 tons of mung bean and 100,000 tons of pigeon pea in five consecutive years (from 2021-2022 FY to 2025-2026 FY) through private trade. The G to G agreement will not affect the international bean quota issued annually by the India government, and Myanmar bean exporters will also be able to participate in the international quota.
The first meeting of Joint Monitoring Committee (JMC) between Myanmar and India was held through video conferencing on 21 January, 2022 according to the MoU.
At the meeting, both sides agreed on the criteria, standards and norms of the bean trade for the traders and governmental departments from 2022-2023 FY to 2025-2026 FY according to the MoU. Moreover, Myanmar and India have conducted cooperation works between two countries on issues appeared in the bean trade according to the G to G MoU.
Myanmar earned a total of US$-564.637 million from the export of assorted beans and pulses to other countries via maritime route and border route within over five-month periods of 2022-2023 FY, according to the Ministry of Commerce.
US$-468.283 million was earned from the export of 580691.892 tons of beans and pulses via maritime route and US$-96.354 million from the export of 142352.047 tons through border trade route from 1 April to 9 September in 2022-2023 FY.
