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Stockiest incur huge loss as green pea prices drop 45% since March

26 May 2022 4:54 pm
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MUMBAI, 26 May (Commoditiescontrol) – The stockiest, who stocked green peas at higher rates, have incurred huge loss as prices of the commodity have dropped sharply.

Green peas prices Chapti variety were at Rs 2,700-3,000/100Kg and its round variety was offered at Rs 3,500/100Kg in the benchmark market of Lalitpur in Uttar Pradesh on Thursday with arrivals of 3000 bags.

However, prices of green peas were at 6,000-6,500/100Kg during the harvesting season. Hence, prices of green peas dropped over 45% so far since March when harvesting begun.

As per Lalitpur based traders, acreage around 20% of White Pea has shifted to green pea this year due to higher rates last year.

Stockiest have already purchased at an average rate of Rs 6,000-6,500/100Kg. therefore, they are suffering a huge loss duet o steep fall in the prices of the commodity. Local buyers along with buyers from Mumbai, Chhattisgarh and southern market has purchased stock.

Earlier farmers were holding green pea in anticipation of higher prices, but now active to sell their stock as it may get danki after one or two month.

Consumption of green pea is mainly use for limited purpose, such as sabji (matar paneer) and snacks. Not like White Pea for dal/besan.

(By Commoditiescontrol Bureau; +91-22-40015513)

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