Mumbai, 19 Mar 2024 (Commoditiescontrol):Tur (pigeon pea) prices in major Indian markets remained steady or declined today, attributed to weak miller demand amidst high prices. Markets in Akola, Nagpur, and Solapur saw bilty prices fall by 50-100 rupees per quintal. However, Latur remained stable after a weak session. Declining lemon prices are further adding pressure to the domestic market.
Trade prices showed mixed results, with Amravati markets in Maharashtra seeing an increase and Latur experiencing a fall. Other state markets held steady or declined slightly.
Lemon prices have dropped significantly. Myanmar's Yangon market saw a decline of 30,000 MMK/Mt with CNF India trade falling $5/Mt. Chennai's reseller market experienced a steeper $15/Mt drop, with domestic Indian markets in Chennai and Delhi registering a 50-75 rupee per quintal decline in lemon tur.
Tur prices are facing further downward pressure from falling prices of masur, a close substitute. Stable tur prices from Africa further contribute to the market dynamic.Mean while supply from Sudan new crop is expected to start in next few days.Sudhan's supply of Tur is expcted to be around 50000 Mt. this season.
In response to increasing market prices and depleting government buffer stocks due to low production of tur and other pulses, the Indian government is taking action. Officials have announced plans to directly purchase 400,000 tonnes of tur and 200,000 tonnes of masur dal from farmers. Purchases will be made utilizing either the Minimum Assured Procurement Price (MAPP) or the Dynamic Buffer Procurement Price (DBPP) – whichever is higher at the time.
Tur International Prices In Key Indian Markets:
Tur (pigeon pea) prices experienced declines today in both mandi trade and bilty trade, attributed to lower demand amidst high rates. Mandi rates also dropped despite reduced arrivals. The only exception was Amravati market, where prices saw an increase of Rs 100/quintal.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Tur dal price increased in major processing center of Akola and Latur while in other major markets price remained steady.
Spot Raw Tur Dal Prices In Key Indian Markets:
Tur prices are expected to remain relatively stable at current levels. This is due to the limited supply from a smaller crop this season, coupled with lower opening stock. However, higher prices have reduced demand for Tur dal as consumers switch to more affordable pulses such as Masur, Matar, and Chana. Future Tur price trends will hinge on the price fluctuations of these substitutes and the volume of government procurement to replenish buffer stocks.
(By Commoditiescontrol Bureau; +91-9820130172)
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