Mumbai, 19 April (Commoditiescontrol): Matar prices experienced a mixed trend on Friday. Desi matar witnessed a decline in both bilty and mandi trade, attributed to a decrease in buying interest. This decline occurred despite lower overall arrivals in major Indian mandis.
Market analysts suggest the decline in desi matar interest may be due to the flooding of imported matar in the market. Many market participants have already filled their near-term requirements, resulting in a drop in demand.
In contrast, while ample supplies of imported matar exist, prices have remained steady. This stability is attributed to rising CNF (Cost and Freight) India prices, caused by a tighter global supply and demand balance. Experts anticipate this tightness to persist until the new crop arrives in Russia and Canada, projected for August and September.
Market predictions indicate that matar prices will likely trade within a range. Ample stock exists, but selling remains restricted as the majority of stock is held by those with stronger financial positions. While prices may experience a near-term rise due to increasing CNF prices and declining domestic arrivals, any upward movement is expected to be limited. The abundance of stock should comfortably meet demand until new crop overseas supplies become available later in the year.
Spot Raw Matar Prices In Key Indian Markets:
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(By Commoditiescontrol Bureau; +91-9820130172)
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