Mumbai, 26 April 2024 (Commoditiescontrol):Prices of both green and white matar varieties have increased in major Indian mandis due to strong demand, mirroring the ongoing upward trend in chana prices. Green matar, in particular, has seen a more significant price jump due to limited supply and increased buying interest from southern Indian markets.
"Green matar production has suffered a notable decline, driving up current prices," remarked a trader in Orai. Best quality green matar in Orai is now trading at Rs 10,000 per quintal.
On the international front, Canadian yellow pea (CIF) prices for Mumbai delivery remain stable in the $520-525 per MT range. Russian prices have eased slightly, dipping by $5 per MT to settle between $485-490.
Analysts anticipate that matar prices will likely remain range-bound in the near term, with a possible minor downward bias due ample stock of imported matar avilable in market. Robust domestic demand, fueled by lower harvests and subsequent higher prices of other pulses like tur and chana, will remain a key support factor. However, the potential extension of the government's duty-free import policy for matar beyond June 30th, along with expected new crop arrivals from Canada and Russia in September, could limit any substantial price increases.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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