Mumbai, 16 Apr 2024 (Commoditiescontrol):Despite a decrease in arrivals to key markets, domestic masur prices have remained stable. Demand has slowed in consuming centers, leading to a price drop of Rs 25-75 per quintal. Processors report sluggish demand after a recent price increase, putting downward pressure on prices.
In addition, a recent government notification requesting updated stock positions has stockists acting cautiously. Local traders are reporting lower arrivals as farmers anticipate the launch of Minimum Support Price (MSP) buying. With current mandi prices falling Rs 400-500 per quintal below the MSP, farmers are reluctant to release their produce.
Meanwhile, Canadian red lentil prices (FOB) have inched upwards, settling at $538 per MT, a $5 increase over the previous trading session. Reduced stocks in Canada are supporting the price rise.
Even with a larger domestic crop this season and increased imports, experts forecast that masur prices will likely remain rangebound. A shift in consumer preference away from pricier tur dal and towards more budget-friendly masur is supporting this stability. Additionally, stockpiling by farmers awaiting the Rs 6425 MSP purchases buy goverment is expected to balance out increased supply keeping price supported.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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