Mumbai, 11 Mar 2024 (Commoditiescontrol):After rising in recent trading sessions, the prices of imported matar (peas) have stabilized in the domestic Indian market. The trend follows mixed signals from the chana (chickpea) market, which seems to have slowed after the government's announcement of mandatory weekly stock disclosures for pulses.
Prices for matar of Russian and Canadian origin remained largely unchanged across most markets. The exception was Mumbai, where Canadian-origin matar saw a decline of Rs25/quintal.
Elsewhere, yellow pea (FOB) prices in Canada continue their downward trend, currently quoted at $345 per MT, a decrease of $4 from the preceding session. This drop in yellow pea prices is attributed to the expectation of expanded acreage.
While matar supply is currently plentiful, demand remains strong due to higher chana prices. However, the recent government announcement regarding mandatory weekly stock disclosures for pulses could trigger some selling activity. This may cause speculative buying to slow down, potentially leading to a short-term price correction across the entire pulses sector, including matar.
It's important to note that the long-term outlook for matar prices will heavily depend on the pricing trends within the chana market.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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