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Tur/Matar Closes Flat In Mumbai On Lukewarm Buying Activity

20 Jan 2020 6:54 pm
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MUMBAI (Commodities control) – Lemon-variety Tur and Ukraine-origin Matar ended flat in Mumbai. The former settled at Rs 4925, while Ukraine white pea and Canada White-pea closed at Rs 5650-5700 in Mumbai and Mundra port, respectively.

The peas had a weak start of the day in Kolkata, while they were stady during the opening session in Mumbai. Pea is facing hurdle due to sharp fall in chana/kabuli chana prices. White pea is yet to find support, despite tightness in ready stock and a lag in rabi White Pea's acreage.

Canada-origin Pea loses Rs 100 to trade between Rs 5500-5600 in Kolkata on Monday, following weak trend in Chana. While in Mumbai, Ukraine-origin Pea trades steady at Rs 5600 and Canada pea at Mundra port trades flat at Rs 5550.

The reason for this dullness is shift in trading volume of White pea, as Chana/Kabuli Chana happens to be a cheaper substitute. However, even Chana prices continue to slide on rise in arrivals and dull buying by the millers and traders. Thus doubly adding to the pressure.

Price of White Pea did gain sharply some weeks back, after Government imposed the CIF value of Rs 200 per kg as Minimum Import Price for peas.

One factor that is likely to cushion the price of White Pea is that the containers continue to be stuck at various ports due to non-issuance of Customs' clearance. In fact the Hearing at Jaipur High Court scheduled today has been further postponed by a week. This is the only supportive factor on the side of white pea.

As for pigeon-pea, prices have been moving in a range for past few sessions now. Regular arrival of domestic new Tur was reported at the producing centers is the major reason keeping lid on price rise. However, moisture content in the arriving crop is quite high at the moment.

Although, Tur production in Karnataka is seen at 8, 65,000 tonnes in 2019-20 (Jul-Jun) season, down 11.4 percent from 9, 76,000 tonnes in the previous year, according to the state agriculture department's second advance estimate. This will keep the prices supported on the lower-side.

NAFED has procured 1810.60 MT Tur at MSP of Rs 5,800/100Kg, In Telangana, as On Jan 15, 2020.

As per trade sources, stockiest and government agency are not interested in purchasing new Tur with high moisture content. They will consider buying the new stock, after the moisture content reduces. New tur with lesser moisture content is expected to arrive, in major market, from February-March.

Meanwhile traders see Tur prices ranging between Rs 4700-5000 for the time-being.

(Commodities Control Bureau)

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