Mumbai, 23 May 2024 (Commoditiescontrol): In major consumer markets, Masur prices have continued their upward trajectory, fueled by robust buying activity. Prices surged by Rs 50-150 per quintal, primarily driven by sellers' reluctance to meet the heightened demand. This surge marks a substantial recovery of Rs 500-600 per quintal over the past 7-8 sessions, spurred by government initiatives to purchase Chana from the open market as this can improve overall sentiment in pulses market. Additionally, elevated tur prices have lent support to Masur prices, as the pulse is often utilized as a partial substitute for tur. Analysts predict that high price tur will contribute to a consumption shift of 5-7% to Masur.
In commercial deals along the Kanpur, UP/MP line, Masur maintained firm footing, quoting at Rs 6,600 per 100 kg. Similarly, in Delhi, Masur prices ticked up by Rs 75 to reach Rs 6,700 per quintal for MP line Masur. In Bareilly, the Moti variety of Masur saw a Rs 50 hike, trading in the range of Rs 6,700-6,725 per 100 kg.
Imported Masur prices largely remained stable, except in Kolkata, where a container of Australian Nugget commanded a Rs 100 increase, fetching Rs 6,350-6,400 per quintal. Split Masur or Masur dal also witnessed an uptick, trading at Rs 7,250-7,700 per 100 kg, up Rs 50 at Katni APMC.
Local sources indicate that end-users are aggressively purchasing Masur, while sellers exhibit hesitancy in offloading their stocks. Mandis in Madhya Pradesh remained closed due to Budh Purnima, further exacerbating the drop in arrivals attributed to diminished selling interest and lower production.
On the international front, Canadian farm gate prices dipped slightly to $560 per metric ton, down $3 from the previous session. Stock liquidation prompted by planned acreage expansions continues to exert pressure on spot market prices, although prices still linger higher than mid-March levels due to supply constraints.
Given, the dwindling supply and robust demand, analysts expect Masur prices to sustain gains in the forthcoming days.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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