Mumbai, April 15 (Commoditiescontrol):During the week ended April 15th, the price of White Pea at Kanpur benchmark market experienced a decline for the second consecutive week. This was mainly due to the increased supply of domestic arrivals. Additionally, buyers were hesitant to make purchases as the state government mandated disclosure of their pulses stock on its portal. This, in turn, further weighed on the demand for White Pea. The offtake of Matar dal and Besan remained thin.
As a result, the price of White Pea in Kanpur fell by Rs 100-150 to close at Rs 4,350-4,500 per 100 kg by the end of the week. Meanwhile, the prices of Vatana dal and Besan remained unchanged at Rs 5,500 per 100 kg and Rs 3,750 per 50 kg, respectively, at the close of the week.
Trend: The price of White Peas in the coming week is expected to decline by Rs 100-200/100kg. This is due to the likelihood of increased arrivals of Rabi crops and a weak trend in Chana prices. In addition, millers, stockiest, and bulk players are expected to remain cautious and make need-based purchases due to the government's mandatory directive to disclose pulses stock. But the downside should be limited because White Peas are the most affordable option among pulses and serve as a substitute for chana and tur. Thus, it is expected that buying interest may pick up for White Peas at lower levels, which may limit the downward pressure on their price.
(By Commoditiescontrol Bureau: 09820130172)
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