Mumbai, 24 June 2024 (Commoditiescontrol):Masur prices in major consuming and producing markets have shown a stable to weak trend. This has been influenced by recent stock limits imposed on Tur and other pulses, which has resulted in a decline in Tur prices, subsequently impacting Masur prices. As a result, prices in Kanpur and Delhi dropped by Rs 25 per quintal.
In key mandis across Madhya Pradesh and Uttar Pradesh, prices were also quoted lower by Rs 50-100 per quintal. Additionally, some markets in Uttar Pradesh were closed due to the weekly off, contributing to reduced trading activity. In bilty trade, also exhibited weak sentiment with prices mostly quoting lower.
On the international front, the Canadian farm gate price for immediate shipment remained steady at $563 per metric ton, unchanged from the previous session. This stability follows a rise from a three-month low, driven by scarcity. Prices for shipments scheduled for October to November (S/O/N) were stable on a day-over-day basis, trading between $515 and $547 per metric ton after a sharp increase on Friday.
Looking ahead, Masur prices are expected to remain within a broad range, with a negative bias likely in the short term. The stock limits on pulses such as Chana and Tur are anticipated to put additional pressure on masur prices.
The Masur market is currently facing dual challenges: diminished demand and the regulatory impacts of stock limits on other pulses. While Canadian prices remain relatively stable due to limited supply, domestic markets are likely to continue experiencing weakness. Subdued buyer activity and the imposition of stock limits have curtailed demand, exerting downward pressure on prices.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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