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Masur Supply Tightens, Prices Hold Steady Ahead of MSP Purchases

15 Apr 2024 4:01 pm
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Mumbai, 15 Apr 2024 (Commoditiescontrol): Prices for both domestic and imported masur (red lentils) remained stable for the second consecutive trading session. Local traders attribute the stability to reduced arrivals, as farmers anticipate the upcoming government buying program at the Minimum Support Price (MSP). Reluctance to sell at current mandi prices, which are lower by Rs 400-500 per quintal, further limits supply.

Internationally, the Canadian red lentil market saw prices moderate, with the Free on Board (FOB) price settling at $532 per metric ton (MT), $3 lower than the previous session. The recent decline in masur prices is due to the expectation of increased acreage.

Despite a larger domestic crop and rising imports, experts anticipate masur prices to remain rangebound. This stability is supported by a shift in demand away from the higher-priced tur dal and towards the more affordable masur. Additionally, the lower market arrivals due to farmers holding out for the MSP of Rs 6425 are expected to balance out increased supply.

Spot Masur Prices In Key Indian Markets:


(By Commoditiescontrol Bureau; +91-9820130172)


       
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