Mumbai, 12 Mar 2024 (Commoditiescontrol): Prices of masur (red lentils) in India have declined across major domestic markets. This downward trend is primarily due to a significant increase in arrivals of the new masur crop in the key growing region of Madhya Pradesh. Recent rainfall events have negatively impacted crop quality, further contributing to the decline in prices. Prices have fallen between Rs 50 and Rs 100 per quintal, with markets like Lalitpur and Sagar experiencing notable drops. Despite this, demand for high-quality masur remains strong.
Imported masur prices have remained largely stable across most major markets, except for Delhi, where prices have dipped by Rs 25 per quintal due to subdued demand for pulses in general. Internationally, a decline in demand from India has led to a $20/Mt drop in prices for both Canadian and Australian masur. Australian masur is currently offered at around $690/Mt, while Canadian masur trades at approximately $710/Mt CNF at Indian ports.
Experts anticipate continued pressure on masur prices due to the ongoing influx of the domestic crop and its subpar quality. However, potential mitigating factors include reports of crop damage caused by recent rains and hailstorms, which could lower yields. Additionally, farmers might be reluctant to sell at current low prices, especially as they fall well below the official Minimum Support Price (MSP) of Rs 6425/quintal. Government intervention through buffer stock procurement could also provide a floor to limit price declines. While masur prices are likely to see some further declines, these factors may prevent a more dramatic drop.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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