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Upward Rally Continues In Tur At Major Mkts

23 Sep 2020 7:49 pm
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Mumbai (Commoditiescontrol) – Domestic Tur continued upward rallies by Rs 50-200/100kg in major markets, as per quality, on Wednesday due to fear of crop damage and delay in new crop arrivals in Karnataka and Maharashtra due to rains and cloudy weather.

Arrivals of new Tur crop in karnataka are expected to begin from December, instead of November end due to rains.

Tur kharif production during 2020-21 is estimated higher 5.48 % at 4.04 million tonnes Vs 3.83 million tonnes in 2019-20 (fourth advance estimate).

Nafed is holding limited stock of Tur for consumption to last one-one-and-half year. Stocks with private traders/millers are low, while sellers are unwilling to liquidate in anticipation of price rise.

Millers were unable to procure good quality Tur for crushing due to negligible arrivals. Moreover, good trade activity in processed Tur also supported prices.

Similarly, Tur Lemon old and new varieties of Burma-origin extended gains by Rs 200 Rs 6,300 and Rs 6,500/100Kg, respectively, in Mumbai.

Myanmar announced a stay at home order from 21st September onwards till 7th October, 2020 after daily increase in new cases of Covid-19, traders said. But, it will not affect loading/unloading cargo at port. However, clearance will be slow.

Meanwhile an unconfirmed news is making rounds in the market, that government will allocate quota to millers/refineries soon amid shortage of Tur.

If the government, allocates quota, prices in Burma market will move higher and import parity would also be higher, in that case. Tur stock was reported around 1 Lakh tonnes approximately.

As per market view, supplies pressure of Tur around 1.5-2 Lakh tonnes from Mozambique is seen next month onwards. Tur prices will be under check, if government allocates quota to millers as supply likely from Burma and African countries.

Spot Raw Pigeon Pea (Tur) New Prices In Key Indian Markets:

(By Commoditiescontrol Bureau; +91-22-40015513)

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