Mumbai, 15 Apr 2024 (Commoditiescontrol): The Mumbai market saw a slight increase in prices for imported Russian matar (peas). Prices for Mundra and Hajira delivery of Russian peas rose marginally, whereas Canadian yellow peas remained unchanged.
Russian pea prices remain steady due to limited stock, trading at a slight premium. However, the continuous flow of imported Canadian peas ensures a well-supplied market, maintaining price stability.
Domestically, the Lalitpur and Mahoba markets experienced increases in white and green pea prices. This is attributed to lower arrivals alongside robust demand from the southern market. In select Uttar Pradesh markets, white matar prices increased by Rs 100/quintal, with green matar prices rising by Rs 200/quintal.
Yellow pea (FOB) prices in Canada remain at a lower $343 per MT, seeing a $3 drop since the previous session. Anticipated acreage increases have been putting downward pressure on yellow pea prices in recent weeks. However, strong demand from India and a tighter market balance sheet could potentially stem aggressive price declines.
Matar prices are anticipated to trade within a limited range. Due to India's large imports, the global market balance sheet is tight, limiting further price drops for imported matar. The Indian government's permission for duty-free imports means India could potentially import 12-15 lakh tons of matar this season. Domestic prices, however, are unlikely to rise beyond current levels due to an ample supply of imported matar, unless chana prices move upward.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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