Mumbai, 30 Jun (Commoditiescontrol): Prices of both imported-domestic Tur extended gains at major markets amid better mills buying, less ready stock of imported Tur, lower imports due to price disparity as Rupee depreciated to 78.99 against US dollar.
Further, a slowdown in domestic arrivals especially average quality was supportive for the market.
Trend of sowing activity shows fall in acreage under pulses cultivation. While, the loss in acreage is due to delayed monsoon & deficient rainfall, the shift in acreage to other crops is seen due to better returns.
Though the monsoon has recovered in last few days, still recovery is not sufficient to make up for losses. However, there is still time available for Tur sowing and the window is open till July last.
Telangana 2022-23 Kharif Tur acreage was down 45.54% (as compared to the same period last year), as of June 29 at 1,66,285 Vs 3,05,377 last year (Area in acres).
In forward business at Chennai, Tur Lemon is priced firm at Rs 6,650/100Kg for August delivery.
At Burma, Tur Lemon offered unchanged at $870 per metric ton on CNF basis as local & overseas buyers inactive.
Meanwhile, inventory of Tur and Tur dal is limited in the pipeline due to uncertainty about government regulation stockiest are still inactive. Demand in Tur dal at higher rates was slow.
In the near term, a pick-up in seasonal demand will support the prices. But long term trend will depend on the revival of the stockiest and trade participants' interest in increasing inventory level.
Uptill now stockiest are almost out of market and trade participants prefer to keep inventory level just enough to meet immediate requirement. This is due to fear of government interference in the market to keep prices under check.
Spot Raw Pigeon Pea (Tur) New Prices In Key Indian Markets:
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(By Commoditiescontrol Bureau; +91-22-40015513)
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