Domestic Tur trade mixed at select market on thin mill buying

Mumbai, 6 OCT (Commoditiescontrol): Domestic variety Tur traded mixed at select markets on thin mills purchase as offtake in Tur dal remained sluggish, traders said.

Millers were facing disparity due to poor offtake of Tur dal despite ongoing festive season and higher vegetable prices, they added. Current set-up remains fairly inter-linked between availability and demand as also swiftness to price change.

Price of Burma origin Lemon variety Tur firmed up Rs 25/100Kg as sellers were inactive at lower rates, low ready stock & less supplies from overseas. On the other hand, Africa origin Tur of all variety priced unchanged on limited mills trade and supplies from its origin.

Supplies continue to trickle in at a brisk pace. Vessel M V ISLANDER from Africa had discharged 10,125 MT till 6th Oct at Mumbai port. Vessel carrying 23,873 MT Mozambique Tur.

On currency front, U.S. dollar continue to dominate commodity price movement. As long as it stays firm, overseas pulses may quote strong. Rupee depreciated to 82.14 against USD making imports costlier.

Weather conditions are also adding some flavour to trade these days. Rainfall was reported in select markets of Maharashtra, Karnataka & Madhya Pradesh since last evening.

Burma origin lemon variety Tur firm by Rs 25/100Kg at Naya bazaar market of Delhi on fresh local buying at lower rates. At Chennai, Burma Tur Lemon variety priced at Rs 7,200-7,225.

As per Gulbarga based trader, the region witnessed rainfall since last evening. Weather stayed clear during the last fortnight and was beneficial for Tur crop. Once the rains stop, exact damage caused to standing crop of Tur will be known.

Yadgir region witnessing rains since last night. New Tur Will start by last week of Dec. Tur crop expected down 25-30% compared to last year.

At Burma, Tur Lemon variety quoted lower by $10 at $910 per metric ton on CNF basis for Mumbai. For Chennai Tur Lemon-Linkhey variety offered at $905 per metric ton on CNF basis for October shipment. Today, local currency Kyat weakened against the U.S. dollar. It stood at 2900 Kyat/dollar versus 2800-2900 during the previous day closing.

As per local source, Tur stock at Burma are estimated at around 1 lakh tonne. New Tur crop expected to begin from December onward.

Tur dal processed from African origin Tur offered at lower rates for next month delivery condition as new crop Tur has started arriving in India ports. This will result in an increased price difference in Tur dal processed from Lemon variety and domestic variety versus dal processed from African Tur. As a result, prices of Tur dal processed from desi Tur and Lemon Tur may come under pressure.

There is likelihood of Turdal demand reviving after 5th October, due to lower rates. Prices may get support if Tamil Nadu civil supply award purchase tender on Oct 10th. Stockiest are expected to exit from Tur and shift to soybean stock. Any rise in prices should be seen as an opportunity to exit.

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