Mumbai, 14 May 2024 (Commoditiescontrol): Matar prices have remained largely stable across major consumption centers on Tuesday, marking their fifth consecutive session of sluggish trading activity.
Local traders attribute the stability in prices to ample supply, which has kept buyers operating on a hand-to-mouth basis, thus preventing any significant fluctuations in prices.
On the import front, the prices of imported pea (CIF) in Mumbai have maintained a steady stance. Canadian origin pea prices hovered between $495 and $500 per metric ton (MT), while Russian origin prices remained unchanged from previous sessions, ranging between $475 and $485 per MT. The influx of imported material has exerted pressure on major spot market prices.
Looking ahead, market analysts predict that matar prices will likely remain range-bound in the coming days due to existing supply and demand conditions. While further price declines seem unlikely following recent dips, any potential price gains are expected to be capped due to sufficesnt stock avialble in the market and expected increase in supply due to new crop arrival in international origins such ass Canada and Russia.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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