Mumbai, 24 June 2024 (Commoditiescontrol): Matar (pea) prices experienced a decline in Kanpur, while markets in Mumbai and Kolkata saw prices hold steady as the government's decision to impose stock limit on pulses dampened trader sentiment. Local sources attribute the price drop to a sluggish demand for processed goods and increased imports, which continue to exert downward pressure on prices. Selective mandis across the country have also reported a fall in domestic Matar prices.
In terms of imports, prices for Canadian-origin peas (CIF) remained stable in Mumbai and Kolkata, priced at $480-485 per metric ton and $515 per metric ton, respectively. In Kolkata, prices for Russian-origin peas also held steady at $503 per metric ton.
Meanwhile, in Canada, farm gate prices for peas decreased slightly, now at $326 per metric ton, down $2 from the previous session. Sources indicate that increased acreage is contributing to the price decline. Prices for shipping in October to November (S/O/N) also saw a reduction, now quoted between $295 and $310 per metric ton, marking a $4-18 decrease from the previous session.
Despite the current downward trend, domestic pea prices are expected to receive support in the coming days. The wider price spread between Chana and Matar is likely to stimulate demand from besan producers. However, the continued fall in Canadian prices may cap any significant price hikes domestically.
Overall, the Matar market is navigating through a phase of low demand and higher imports, which are keeping prices in check. With stable imported pea prices and anticipated demand from besan producers, the market could see a balance in the near term, despite the downward pressure from increased supply and lower farm gate prices in Canada.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
