Mumbai, 19 Mar 2024 (Commoditiescontrol):Masur prices across major Indian markets exhibited mixed trends. While Lalitpur and Jabalpur witnessed declines, prices in Bina and Sagar saw modest increases. Other key markets remained relatively stable. Improved crop arrivals due to recent dry weather have contributed to downward price pressure in some areas.
A downward revision in earlier production estimates is providing underlying support for masur prices. However, reports of reduced crop quality, including smaller grain size and weather-related damage, are preventing a significant price decline. Additionally, robust demand fueled by a consumer shift away from higher-priced tur is further stabilizing masur prices, even in the face of increased production this season and higher import volumes.
The Indian government is poised to purchase 400,000 tonnes of tur and 200,000 tonnes of masur dal directly from farmers to address dwindling stockpiles. Utilizing either the Minimum Assured Procurement Price (MAPP) or the Dynamic Buffer Procurement Price (DBPP), whichever is higher, this initiative aims to stabilize market prices and offset reduced government buffer stocks caused by diminished tur and pulse production.
Farmers are hesitant to sell at prevailing market prices, which are lower than the Minimum Support Price (MSP). Many have registered to participate in the government procurement program. While procurement is slated to begin mid-next month, farmers in masur-growing regions often have limited storage capacity, contributing to improved arrivals in certain areas. The planned procurement of 200,000 MT signifies approximately 15% of the estimated masur crop size of 1200,000 MT.
Increased arrivals after the Holi festival are expected to put further downward pressure on masur prices. However, anticipated government procurement and robust demand should limit any significant price decline
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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