Mumbai, 08 Apr 2024 (Commoditiescontrol):Domestic matar prices in Uttar Pradesh markets have stabilized after experiencing a rise in the previous week. Green pea prices, in particular, have seen a decrease of Rs 200 per quintal in selected markets following a sharp increase. The price difference between white and green matar remains significant, ranging between Rs 3,000 and Rs 4,000 per quintal. Market observers attribute this stabilization to dull demand at current price levels.
Imported matar prices in major markets have been reported as either stable or slightly weaker. In Kolkata, prices have fallen by Rs 50 per quintal due to the fulfillment of immediate demand. However, inquiries remain healthy in Kanpur and Mumbai, keeping prices supported in these markets.
Elsewhere, yellow pea (FOB) prices in Canada closed at $350 per MT, representing a $1 increase from the previous session. Despite the uptick, a downward trend is observed in Canadian yellow pea prices due to the expectation of greater acreage.
The Indian government has extended the deadline for matar imports to June 30th from the initial April 30th deadline. This move allows for imports without MIP conditions or port restrictions. The increased supply resulting from this decision is expected to impact domestic matar and chana prices.
Matar prices are expected to remain subdued due to the extension of duty-free import timelines. However, ample demand should prevent any major decline.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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