Mumbai, April 15 (Commoditiescontrol): During the week ended on April 15th, the price of the Canada-origin crimson variety of Masoor saw a decline at Mundra-Hazira and Kolkata markets. This was due to slow mills buying, as the demand for Masoor dal remained slack. In addition, the ongoing domestic arrivals of Masoor also impacted the demand for the Canada-origin variety. Meanwhile, the price of Australia-origin Masoor remained unchanged in Mumbai and Kolkata markets.
On the other hand, the price of domestic-origin Masoor declined by Rs 50-100/100Kg at Indore and Kanpur markets due to weak offtake in Masoor dal, this was due to thin buying from millers and traders. The situation was exacerbated by the fact that new Masoor arrivals have gathered pace at producing centres. The Madhya Pradesh-origin Masoor prices for Delhi delivery also fell by Rs 100/100Kg due to dull mills buying at higher rates.
The price of Masoor dal produced from Canadian-origin Masoor decreased by Rs 100 to Rs 7,200-7,400/100Kg in Mumbai due to dull offtake. Similarly, the commodity produced from domestic-origin Masoor at Katni saw a decline of Rs 100 and was priced at Rs 6,500-7,000/100Kg.
Trend: Recently, the international CNF quotes for Masoor have stabilized, supporting Masoor prices and resulting in some recovery from their previous lower levels. However, the scenario is changing as domestic arrivals of Masoor are gaining momentum, which could again exert downward pressure on prices. Nonetheless, the downside should be limited since Masoor prices are already close to the Minimum Support Price (MSP). Therefore, the future price trend in Masoor will rely heavily on government procurement and CNF quotes for international Masoor. If the government intensively procures Masoor at MSP and international quotes remain steady, we may see a range-bound trend in Masoor prices.
(By Commoditiescontrol Bureau; +91-9820130172)
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