Mumbai, 09 Apr 2024 (Commoditiescontrol):Prices for imported peas (matar) of Canadian and Russian origin declined today in the Mumbai market. Market analysts attribute this to sluggish trading due to market closures and reduced activity stemming from the Navratri and Hindu New Year holidays.
The ongoing influx of overseas imports and the recent extension of duty-free import allowances for matar are also contributing to downward price pressure. In contrast, major consumption centers in Kolkata and Kanpur have maintained stable pricing.
Domestically, the Lalitpur market saw a decline of Rs 100/quintal for peas, while other markets remained steady.
Experts predict that pea prices will stay within a limited range. Strong demand for peas should help maintain prices. However, the government's extended duty-free import policy for peas, now in effect until June 30th, has hindered the anticipated rise in chana prices. This situation suggests that both pea and chana prices will likely trade within a narrow band.
A potential recovery in pea prices could occur if the government initiates chana procurement at market prices to restock buffer reserves. This could lend support to a corresponding increase in pea prices.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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