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Indian Demand Boosts Burmese CIF Prices; African Tur Stable

28 May 2024 6:37 pm
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Mumbai, 28 May 2024 (Commoditiescontrol): Following a firm session, Burmese Tur market stabilized today. However, CIF prices increased by $20 per metric ton due to strong buying activity from Indian counterparts. Local traders attribute this price hike to high demand from Indian buyers.

In doemestic markets price of imported Tur of Burma and Africa origs moved up further due to strong buying and limited selling interest.Due to report of expcted short fall in price of African origin Tur have move up sharply and due to this its discount to Lemon and desi Tur has reduced sharply . African tur and lemon prices are trading at nearly identical levels. Sources indicate that Africa's production is expected to be 15-20% lower, causing last week's sharp price increase.

Tur International Prices In Key Indian Markets:

In Maharashtra and Madhya Pradesh, tur bilty prices have risen by Rs 100-150 per quintal in major markets. This increase is supported by strong buying activity from millers, driven by rising dal prices.

Carrying forward a positive momentum from international trade, the all expenses paid bilty deals reported gains across the variety and various mandis. Maharashtra Akola mandi Desi variety Tur quoted Rs 150 per quintal strong while Latur, Nagpur, Solapur markets reported Rs 100 increase. At Madhya Pradesh's Katni market witnessed an increase of Rs 100.

Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:

Split Pigeon Pea or Tur Dal prices rose benefiting from strong demand. Prices of Burma Lemon, Mazambique and Sudan origin as well as Desi variety tur dal gained between Rs 100 to Rs 200 per quintal.

Spot Raw Tur Dal Prices In Key Indian Markets:

The recent increase in raw turdal prices are supporting the ongoing rally in raw Tur,with Tur dal increasing by Rs 100/quintal. In just the first two days of this week, tur dal prices have risen by Rs 200 per quintal, following a Rs 300 increase last week.Traders anticipate continued price increases due to slow dal mill sales of tur dal. Limited mill operations, caused by raw tur scarcity and crushing disparities, are further supporting tur dal prices.

Overall, tur prices are expected to remain firm in the near term. However, the onset of monsoon season and sowing intentions for the Kharif tur crop will influence the price trend in the coming days.

(By Commoditiescontrol Bureau; +91-9820130172)

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