Mumbai, 11 Apr 2024 (Commoditiescontrol):Tur prices displayed a mixed trend today due to lackluster trading activity as many markets remained closed for Eid celebrations.
In the Burmese market, prices for tur moved up in both local trade and CNF India trade. This increase can be attributed to buying activity by Burmese stockists and Indian importers in anticipation of market closures in Burma for the upcoming Water Festival.
In contrast, the Indian market witnessed a decline in prices for Burmese lemon tur. This downward trend mirrored a significant fall in desi tur prices. The Indian government's directive mandating compulsory weekly disclosure of pulse stockpiles is believed to be a contributing factor to the price drop.
Prices for African origin tur remained largely stable, with the exception of Mozambique tur, which saw a moderate increase.
Tur International Prices In Key Indian Markets:
Tur prices experienced a sharp decline in bilty trade across major trade and processing centers in Maharashtra including Akola, Nagpur, and Solapur. The muted trading activity can be attributed to the Eid holiday.
The recent government directive mandating weekly disclosure of pulse stocks is believed to be a significant factor behind the price drop. The magnitude of the decline suggests that these centers possess sizable stockpiles of tur and tur dal.
Since the directive was issued late in the day before Eid, the full impact on trading activity remains to be seen, with today's market performance providing a clearer indication.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Tur dal prices remained stable in most markets across the country despite limited trading activity. However, a major trading center Nagpur experienced a significant decline of Rs 400/quintal. This sharp drop suggests that Nagpur holds a sizable stockpile of tur dal. If these lowered prices are sustained today, it could trigger a broader decline in prices across other trading centers.
Spot Raw Tur Dal Prices In Key Indian Markets:
Tur prices may come under pressure as stockists and mills respond to the government directive to disclose stock levels. This could lead to increased selling activity. Additionally, the directive may discourage speculative buying, potentially halting the ongoing rally. However, the smaller crop size this season should limit the extent of any price decline.
(By Commoditiescontrol Bureau; +91-9820130172)
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