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Tur Prices Decline Due to Profit-Taking, Anticipation of Increased Supply

15 Apr 2024 6:38 pm
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Mumbai, 15 Apr 2024 (Commoditiescontrol):After a period of rising prices, tur (pigeon pea) prices in major markets have weakened for the second consecutive session. This decline is attributed to profit-taking at higher price levels, reduced demand from processors, and an anticipated increase in market arrivals as mandis (agricultural markets) resume normal operations following the festive holidays. Additionally, the closure of the Burma market has curbed speculative activity, contributing to the downward trend.

In major mandis and bilty markets, tur prices have decreased by Rs 100-200 per quintal. Moreover, imported tur varieties from Africa have seen price reductions, as have lemon tur prices, falling by Rs 50-100 per quintal across various markets.

In other news, the Indian Meteorological Department (IMD) has forecasted a monsoon at 106% of the Long Period Average (LPA). This positive forecast is anticipated to significantly increase Kharif acreage.

Tur International Prices In Key Indian Markets:


Desi tur in Major maharashtra markets declined due to weak demand from millers and increased arrivals. Price declined in bilty and mandi trade in major markets.

Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:



Desi tur dal price also declined due to lower demand and fall in raw tur prices.

Spot Raw Tur Dal Prices In Key Indian Markets:


Millers and stockists limit purchases due to fears of government intervention. This coincides with increased tur crop arrivals as markets resume normal operations after a 20-day gap. Forecasts of an above-normal monsoon further discourage buying at higher rates. Consequently, tur prices are expected to remain under pressure in near term.

(By Commoditiescontrol Bureau; +91-9820130172)


       
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