Domestic Masur Prices Weaken Despite Limited Supply

Mumbai, 19 Apr 2024 (Commoditiescontrol):Domestic masur prices experienced a decline in select locations, including Lalitpur, Beena, and Kareli, despite lower domestic arrivals. This downturn is attributed to decreased market demand. In mandi trade, prices have seen a drop of Rs 50-100 per quintal, while in bilty trade, most markets have remained stable, except for Indore, which witnessed a slight decline. Imported masur prices also held steady.

Despite an abundance of domestic masur crops and greater imports, market analysts anticipate that prices will remain range bound for the time being. This stability is partially due to consumers opting for the more budget-friendly masur as tur dal prices remain elevated. Furthermore, the slowdown of domestic arrivals, potentially caused by farmers stockpiling in anticipation of MSP (Minimum Support Price) purchases by the government at the rate of Rs 6425, helps to offset the increased supply and support prices.

Finally, a tight global balance sheet for masur until new crop arrivals occur in Canada and Australia is likely to limit supply and lend support to domestic prices.

(By Commoditiescontrol Bureau; +91-9820130172)