Mumbai, 29 Apr 2024 (Commoditiescontrol):Prices of tur (pigeon peas) declined in major domestic markets after rumors circulated about impending government action targeting stockists who have not yet declared their inventory. The price drop affected both desi (Indian-origin) and imported tur.
African-origin tur prices remained stable within the domestic market. However, Burma lemon tur prices weakened, falling in Chennai and Mumbai while staying steady in Delhi. Local traders attributed the lack of activity at current prices to the current wider price range.
The Burmese market also saw lower prices, with local trades declining by 15,000 MMK/Mt and CNF India trade dropping by $10/Mt.
Tur International Prices In Key Indian Markets:
Desi Tur prices declined in domestic markets, with a more significant drop in bilty trade fueled by rumors of government action against undeclared stocks. Mandi prices remained relatively stable due to limited arrivals resulting from a lower crop this season.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Tur dal price were mostly steady amid limted demand at higher prices.
Spot Tur Dal Prices In Key Indian Markets:
The tur market is anticipated to remain range-bound in the near future due to a delicate balance of limited supply and subdued demand. This season's lower crop yields have constrained supply, while elevated prices have led consumers to seek more affordable substitutes. Consequently, mills are purchasing tur only to meet immediate needs. Additionally, the government's close monitoring of the tur market has discouraged stockpiling by both stockists and mills, further contributing to lower demand.
However, a surge in demand is expected during the upcoming sowing period, potentially leading to a rise in tur prices.
(By Commoditiescontrol Bureau; +91-9820130172)
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