Mumbai, May 11 (Commoditiescontrol): In the week ending May 9, the benchmark market for White Pea in Kanpur witnessed a firm trading session, primarily due to a decrease in arrivals of ongoing Samuhik marriage ceremonies. Additionally, the price of White Pea was supported by need-based buying from local and outstation traders and millers, including those from Mumbai and southern markets.
As a result, the price of White Pea in Kanpur saw an increase of Rs. 100, trading at Rs. 4,200-4,300 per 100 kg by the end of the week. Conversely, the prices of Vatana dal experienced a decline, with a fall of Rs.100 and trading at Rs. 5,200 per 100 kg at the week's close. Similarly, Vatana besan saw a decrease of Rs.50 and traded at Rs. 3,650 per 50 kg by the end of the week.
International Markets:
Field pea seeding is progressing in North America with farmers shifting focus to prospective growing and weather conditions. Markets remain largely unaffected despite changes in seeding intentions in Canada and the US. The Canadian Grain Commission reported a decrease in field pea exports for March, but the total for the current marketing year is up 55% from the previous year.
As per technical chart - White Matar Kanpur (U.P Line) - Weak price trend / Next support at Rs 4,000. Click here
Trend:The price of White Pea is expected to remain stable due to need-based buying from traders and millers and regular buying from regions like Mumbai, Chennai, and Madurai. With almost no carry-forward stock and a slowdown in daily arrival, the prices may increase from June-July when demand for White Peas is expected to pick up. White Peas are the most affordable among pulses and can substitute chana and tur, increasing buying interest at lower levels.
(By Commoditiescontrol Bureau: 09820130172)
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