Mumbai, 20 Mar 2024 (Commoditiescontrol):Domestic and imported matar (pea) prices remained consistent across key Indian markets due to a balance of steady demand and continuous supply. Minor fluctuations were seen, such as a Rs 50/quintal decline in white matar prices in Lalitpur.
Import volumes remain significant. Approximately 5.25 lakh tonnes of matar were imported from Russia and Canada between December and February, with an additional 5 lakh tonnes expected through April. This influx, combined with domestic arrivals, is anticipated to maintain market stability.
Robust demand persists, driven by production shortfalls and higher prices in competing pulses like tur and chana. This suggests matar prices will likely remain steady or even strengthen.
Matar prices are heavily influenced by the landed cost of imports. Unexpectedly strong Indian demand has tightened global supply, making significant near-term price drops unlikely. Prices should remain at current levels until at least late August, when the new Russian crop arrives, followed by the Canadian crop in September/October.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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