Mumbai, 04 Jul (Commoditiescontrol): Following a session of stable to firm trading, masur prices weakened in major markets. In Delhi, prices dropped by Rs 25 per quintal, while in other consuming centers, they remained stable. Despite limited supply providing some price support, the overall trend was weak.
In Madhya Pradesh's major mandis, prices were stable to weak, with declines of Rs 50-100 per quintal in Beena and Ganjbasoda due to inactive buyers. Conversely, the trend in Uttar Pradesh markets remained supportive for prices.
Bilty quotes were steady-to-weak, with MP line masur prices falling by Rs 25 at Delhi. Imported masur prices held steady across major centers, except for a Rs 25 drop in Canada origin masur in Delhi.
Canada's lentil exports showed a marked improvement in May with shipments significantly higher at 118,173 metric tons (MT), a 27% increase over previous month, according to Statistics Canada. India was the leading buyer in May, importing 49,727 MT of lentils. Bangladesh followed with 22,000 MT, and Turkey imported 11,291 MT.
Meanwhile, Lentil planting in the United States for the 2024 crop year is projected at 836,000 acres, showing a 58% increase from the previous season in comparable states, according to USDA's 2024 seeded area estimates.The area anticipated for harvest is 790,000 acres, marking a 56% rise from the prior season in comparable states.
Looking ahead, prices are expected to stay low due to slow demand in near term. Traders anticipate that demand may pick up around mid-July, keeping prices range-bound until then.
Spot Raw Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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