Mumbai, April 22 (Commoditiescontrol): The demand for White Pea remained low at the Kanpur benchmark market in the week ending April 22, leading to no significant change in price. Although there was some buying interest emerged from Mumbai and southern markets, the volume was not significant. Large buyers and stockists refrained from making major transactions due to the government's strict monitoring of pulse stocks. Additionally, farmers were less inclined to sell their produce as prices remained lower than the previous year.
Consequently, the price of White Pea in Kanpur remained steady at Rs 4,250-4,500 per 100 kg by the end of the week. Similarly, 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.
International Markets:
The field pea markets saw little change during the week, with market participants mainly focused on the Easter weekend. A small proportion of the pea crop is planted in April, with May being the key month for sowing. In terms of the planted area, field peas are expected to see a marginal decrease from the previous year at 1.3 million hectares. At the same time, the US is anticipated to increase plantings by 9% to one million acres. Average new crop bids for Canadian green peas are heavily discounted to spot markets due to expected area expansion, whereas average new crop discounts for yellow peas are smaller. However, processors and exporters are not showing interest in adding to their new crop positions, reflecting doubts about any expansion in demand from China. On the other hand, purchases from Bangladesh have increased due to lower average export prices and a possible rise in unofficial movement from Bangladesh to India.
As per technical chart - White Matar Kanpur (U.P Line) - Weak price trend / Next support at Rs 4,000. Click here
Trend: According to market analysis, the domestic prices are expected to witness a limited movement in White Pea prices. The prices may fluctuate within a range of 100-200 Rs/100 kg, based on the buying requirements of local and outstation traders and millers.
Large buyers and stockists have refrained from making major transactions due to the government's strict monitoring of pulse stocks. Moreover, farmers have shown less inclination to sell their produce as prices have remained lower than the previous year.
Despite these challenges, the downside for White Pea prices is expected to be limited. This is because White Peas are the most affordable option among pulses and can substitute Chana and Tur. As a result, buying interest is expected to pick up for White Peas at lower levels, which may support the price.
(By Commoditiescontrol Bureau: 09820130172)
0 Comments 
Post Comment 
