Mumbai, 29 Matar 2024 (Commoditiescontrol):Prices of matar (peas) in major Indian mandis have remained stable despite reduced arrivals, according to market sources. The decline in arrivals, coupled with the temporary closure of several markets, has been offset by weak demand of matar.
Analysts note that while the domestic supply of desi and imported matar is ample, import prices from major sources like Russia and Canada are high due to increased Indian imports. This higher cost of imported matar prevents a significant decrease in domestic prices.
Currently, Canadian yellow pea (CIF) prices are trading $5 per MT lower, in the range of $510-520 per MT for delivery to Mumbai. Russian origin yellow peas are priced $10 per MT higher, at $490-500 per MT.
Market watchers predict that matar prices will likely remain within a narrow range in the near future due to the current balance of supply and demand. Prices for green matar are anticipated to be slightly firmer compared to white matar.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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