Mumbai, 10 Apr 2024 (Commoditiescontrol):Domestic markets are experiencing a sharp rise in desi tur prices, attributed to lower crop yields and reduced arrivals this season. Supply shortfalls from African and Burmese tur imports are further exacerbating the situation.
Anticipated supply issues have led to a slowdown in selling from both stockists and farmers. This, combined with reduced trading activity following the Holi festival, has emptied supply pipelines as traders and mills were operating with limited stock due to high prices and concerns about potential government intervention.
Burma's market experienced sluggish trading ahead of the Water Festival closure on April 12th. Prices remained stable for both Yangon local trades and CNF (Cost and Freight) trades with India. Resellers in Chennai were unable to provide quotes for CNF India tur.
Reflecting the desi tur price increases, costs for both Burmese and African tur in the domestic market have also risen.
Tur International Prices In Key Indian Markets:
Desi Tur prices continued to rise due to a failure of arrivals to reach pre-Holi levels. Many markets remain closed for festive holidays, further restricting supply. Slow arrivals, limited selling interest from stockists, and an empty supply pipeline have all contributed to the sharp price increase.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Tur dal prices increased in most major processing centers as a result of rising raw tur costs. However, market sources suggest that demand for tur dal is weake at the higher prices.
Spot Tur Dal Prices In Key Indian Markets:
Today, the Indian government directed all states and union territories to enforce mandatory weekly stock disclosures for pulses. While this system is already in place, the new directive aims for stricter enforcement, potentially ensuring a steady supply of pulses.
Tur prices have risen rapidly since the Holi holidays and may be due for a correction. Additionally, weak offtake of tur dal should limit further price increases.
(By Commoditiescontrol Bureau; +91-9820130172)
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