MUMBAI (Commoditiescontrol) – Tur prices are likely to move up from current level as stock of old Tur in Burma is depleting.
Now importers have to switch into new Tur which is at $740 per metric ton on CNF basis. So, landed prices of new Tur in exchanges are at around Rs 5,275-5,300/100Kg.
Either importer will not import as there is no viability or alternatively domestic Tur prices should move from current levels. So, import becomes viable.
Demand is likely to increase due to beginning of festive period coupled with tight demand-supply position, resulting in support to the prices.
Further market trend of Tur will depend on pace of import and trend in currency. If there is shortfall in imports of Tur as per allocated quantity issued by government to millers and also if there is further depreciation of Rupee from current level, there may be sharp rise in Tur prices ahead.
As per seasonal trend also, normally Tur prices rule firm in month from August to October. Commoditiescontrol has already published Tur Seasonality Preview & Long-Term Trend report on 8 July, 2019.
Considering above factors, Tur prices may move up in near future.
(By Commoditiescontrol Bureau; +91-22-40015513)
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