Mumbai, 13 May 2024 (Commoditiescontrol):Matar prices remained unchanged across major consumption centers in India on Monday, extending the recent streak of subdued trading for the fourth consecutive session. The ongoing elections and weekly closures in Uttar Pradesh, a significant Matar production hub, have dampened market activity.
Local traders report a growing preference for hand-to-mouth transactions among buyers, citing the ample availability of Matar in the market. This cautious approach underscores the prevailing sentiment amid the current situation.
The prices of imported peas (CIF) in Mumbai have declined. Canadian origin peas now range between $495 and $500 per metric ton, a decrease of $10 per metric ton, while Russian origin peas are priced between $475 and $485 per metric ton, marking a $5 per metric ton reduction. The arrival of imported material has exerted downward pressure on major spot market prices.
Market experts anticipate that Matar prices will likely trade within a range due to steady domestic demand and a corresponding supply. Despite the abundance of domestic stocks, holders are reluctant to sell aggressively to avoid negatively impacting prices. However, the anticipation of a large harvest in Canada and Australia may prompt stockholders and importers to liquidate their positions before September/October when the new harvest from these regions starts arriving. This factor is expected to maintain a well-supplied market, limiting any potential for significant price increases.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
