Mumbai, 22 Mar 2024 (Commoditiescontrol): Masur (lentil) prices in Uttar Pradesh and Madhya Pradesh are showing signs of stability or even slight increases driven by strong demand at lower prices. In major markets, prices have risen by Rs 30-50 per quintal.
The holidays for upcoming Holi festival led to a drop in market arrivals, providing support to price levels. Additionally, following a pricing correction, demand is surging once again.
Imported masur prices are also holding steady or demonstrating strength. This is also due to strong post-correction demand. Weather-related issues are anticipated to impact the quality of the domestic crop, further bolstering import prices. Delhi markets saw an increase of Rs 25 per quintal resulting from increased festive demand.
Government-backed MSP (Minimum Support Price) buying operations are scheduled to commence in mid-April. It's currently uncertain whether quality restrictions will be enforced due to generally smaller grain sizes this season.
Markets will close until March 25th in observance of Holi, and year-end closings are expected to dampen trading activity in the short term keeping price range bound.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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