Mumbai, 03 Apr 2024 (Commoditiescontrol): Prices for imported peas (matar) in India have witnessed moderate gains of Rs 25 per quintal. This increase in price is attributed to improved demand at existing price levels. The demand for matar as a less-expensive substitute for chana and tur dals (lentils) is contributing to increased prices. Market analysts note that current spot rates are lower than the landed cost of imported matar, which is discouraging importers and stockists from selling.
Bilty prices in Kanpur for peas from both Uttar Pradesh and Madhya Pradesh are also on an upward climb, with a Rs 50 per quintal increase recorded in today's session. Limited stock and healthy demand are cited as the key reasons behind this rise.
Domestic origin pea prices in selected areas across Uttar Pradesh have shown stability, although price adjustments upwards have been seen in Lalitpur and Mauranipur markets due to better quality arrivals.
Green pea prices have experienced the most pronounced surge, with a Rs 250 per quintal increase reported today. Strong demand from South Indian markets and putana manufacturers is attributed to the rise, widening the price gap between green peas and white peas to a range of Rs 3,000 to Rs 4,000 per quintal.
Market experts anticipate matar prices to hold steady or increase further as import activity slows and the sale of imported matar decreases due to spot prices remaining below landed costs. Sufficient domestic demand is expected to balance the arrival of desi matar into local markets.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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