Mumbai, 07 May 2024 (Commoditiescontrol): Despite poor supply and weak demand, domestic and imported masur prices on Tuesday remained largely stable in various markets. The price stability is attributal to preference among end-users for hand-to-mouth consumption, anticipating improved supply of other pulses due to duty-free imports policy.
Reports from mandis and consuming centers indicated that masur prices held steady throughout the day. The overall market sentiment was characterized by a lack of significant fluctuations. Some markets were closed for the day due to the weekly off, further contributing to the stable price environment.
In Mumbai, Canadian-origin red lentil prices (CIF) maintained their previous session levels at $715-720 per metric ton (MT). Similarly, prices at the Kolkata port stood at $725-730 per MT for immediate delivery. However, quotes from Canada were slightly lower at $572 per MT FOB , potentially influencing future pricing dynamics for June/July delivery.
Analysts noted a reversal in the downward trend of prices, aligning with earlier predictions. With a scarcity of supplies looming, expectations of price increases have heightened, signaling potential challenges for both consumers and traders in the coming days.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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