Mumbai, 07 May 2024 (Commoditiescontrol): In Uttar Pradesh, the majority of mandis observed closure due to the weekly off on Tuesday, contributing to a relatively quiet trading activity. However, in Lalitpur, Rath, and Mauranipur, markets remained open and reported stability in prices of both white and green matar.
Local traders stated that the abundance of supply, driven by increased imports, has led to prices trading at lower levels with no immediate signs of recovery. Pessimism further intensified with the Indian government's extension of pea imports until October 31, along with the removal of import duties on Chana until the same date.
Across major consumption centers, prices held steady except for Kanpur, where a modest increase of Rs 25 per quintal was noted. Narrow range price movement was observed over the past 15-20 sessions due to ample supply.
In international market, yellow pea prices remained consistent with Canadian CIF prices ranging between $505 and $515 per metric ton for Mumbai delivery. Similarly, prices of Russia origin peas stood firm at $485 to $495 per MT for prompt delivery, unchanged from previous sessions.
Given the prevailing supply and demand dynamics, experts anticipate matar prices to remain range-bound in the foreseeable future. While higher supply may mitigate significant price gains, the sharp decline suggests further decreases are unlikely, providing a semblance of stability in the market.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
