Mumbai, 24 Apr 2024 (Commoditiescontrol):Matar prices in major Indian mandis have remained largely stable, with notable exceptions in Lalitpur and Mauraunipur where prices have increased by Rs 50 per quintal. Local sources attribute this increase to lower-than-expected arrivals despite strong demand.
In the international market, yellow pea (CIF) prices from Canada were reported stable, trading in the range of $520-525 per MT in containers, mirroring levels from the previous session.
Matar prices are likely to remain range-bound in the near future, with analysts suggesting a potential negative bias. The current balance is due to healthy import supplies and robust domestic demand resulting from lower harvests of other pulses like Tur and Chana. However, an extension of the government's duty-free import policy for matar beyond June 30th, combined with the availability of new crops from Canada and Russia starting September, could exert downward pressure on prices.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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