Mumbai, 30 Apr 2024 (Commoditiescontrol):Tur (pigeon pea) prices in major Indian markets have experienced a two-day decline following rumors of potential government action against stockists who have not declared their holdings. This slowdown is further fueled by a decline in mill activity, a consequence of weak demand for tur dal, and selling by stockists concerned about the possible intervention.
The Myanmar market has also observed a downturn in prices, with a drop of 70,000 MMK/Mt attributed to limited buying interest from India. Additionally, a shortage of containers in Burma has resulted in decreased exporter activity. The cost of imported tur in India (CNF) has consequently declined by $10/Mt.
Tur prices of African and Burmese origin have largely remained steady despite the slowdown, with limited market activity due to both weak demand and supply. The ongoing elections in India are compounding the subdued market conditions. Lemon tur prices have fluctuated, decreasing in Delhi and Chennai, but holding steady in Mumbai.
Tur International Prices In Key Indian Markets:
Desi Tur prices declined in the domestic market due to weak demand for Tur dal and government intervention fears discouraging stockists from making new purchases.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Notably, tur dal prices have remained largely steady across most major markets, with only the Katni market registering a loss of Rs 100/quintal.
Spot Tur Dal Prices In Key Indian Markets:
The tur market is expected to trade sideways in the near term, caught between limited supply and tepid demand. This season's lower yields have tightened supply, but high prices have pushed consumers towards cheaper alternatives. As a result, mills are only buying tur to fulfill immediate needs. Further dampening demand, the government's close watch on the tur market has discouraged stockpiling by both mills and traders. However, a potential rise in demand is anticipated during the upcoming planting season, which could lift tur prices. The next major supply influx is expected from African origins in September.
(By Commoditiescontrol Bureau; +91-9820130172)
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