Mumbai, May 3 (Commoditiescontrol):During the week of May 3rd, major markets reported a decrease in the prices of Canada-origin crimson variety and Australia Masoor. This was attributed to mills slowing down their buying and thin demand for Masoor dal. Furthermore, the continuous domestic arrivals of Masoor affected the demand for imported Masoor, leading to bulk buyers and stockists remaining on the sidelines. State government officials conducted stock surveys, contributing to the reduced market activity.
In Kanpur markets, the price of domestic-origin Masoor decreased by Rs 25/100Kg due to weak offtake in Masoor dal. The market sentiments were negatively impacted by slow millers & traders buying and the gathering pace of new Masoor arrivals at producing centres. Prices of Madhya Pradesh-origin Masoor for Delhi delivery continued to decrease, with a loss of Rs 50/100Kg, mainly due to dull mills buying at prevailing rates. Conversely, domestic Masoor saw a rise of Rs 50/100Kg in trading prices at the Indore market. This was driven by need-based mills purchasing for crushing purposes.
Due to low offtake, Masoor dal prices from Canadian-origin Masoor in Mumbai remained unchanged at Rs 7,150-7,350/100Kg. Similarly, the commodity produced from domestic-origin Masoor at Katni witnessed stable trading and was priced at Rs 6,300-6,800/100Kg.
As of May 3rd, 2023, Nafed has procured 37,813 metric tons of Masoor at MSP of Rs 6,000 per quintal under the PSS during the 2023 Rabi season.
International Updates:
Statistics Canada estimates that the seeded area for lentils in Canada in 2023 will be just under 4.0 million acres, which is an 8% decrease from last year's area but close to the 5-year average. However, the recent strengthening of lentil prices in Canada may lead to actual plantings being closer to last year's level of 4.2 million acres. Price spreads suggest that there may be a shift towards green masoor lentils with fewer red masoor lentils.
Assuming an average yield, the 2023 lentil crop in Canada is expected to be around 2.3 million tonnes, which is similar to the 2022 production level, keeping supplies steady. While it's still early, export prospects for 2023/24 look promising for Canada, which would support lentil prices.
Trend: The prices of Masoor may continue to face downward pressure, primarily due to the abundance of domestic crops and a lack of demand for Masoor dal. Additionally, the pace of government procurement is slow, with only 38,000 MT procured from an estimated crop of 15.99 lakh tonnes (second advance estimate). The global market is also experiencing ample supplies, which may add to the downward price pressure. However, it's worth noting that global players haven't reduced their prices to compete with the domestic crop, which is a positive factor. Another factor that may support the market is if the government replaces the mid-day meal with Masoor, as suggested by IPGA. In the intermediate term, the Masoor trend will depend on several factors, such as the amount of government procurement at MSP, international CNF prices, and the development of the Monsoon in the Kharif season.
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
