Mumbai, 23 Apr 2024 (Commoditiescontrol):Matar (pea) prices remained largely unchanged in major Indian markets as trading activity slowed down due to Hanuman Jayanti festivities. Imported matar prices held steady, while desi matar prices were stable across most markets, with a minor increase seen in Kanpur.
The closure of most mandis in Madhya Pradesh and Uttar Pradesh for Hanuman Jayanti contributed to the subdued trading. Among the few open mandis, prices showed mixed trends. Rath mandi saw a rise in prices due to good quality arrivals, while Konch experienced a drop as demand dwindled.
Consuming markets reported mostly stable matar prices, except in Kanpur, where prices inched up by Rs 25 per quintal following limited supply due to market closures.
Market analysts predict that matar prices will likely remain range-bound with negative bias in the near future. Ample supply from imports, coupled with the lower domestic harvest, is keeping prices balanced. However, if the government extends the duty-free import policy for matar beyond June 30th, the availability of new crops from Canada and Russia from September onwards could put downward pressure on prices.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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