Mumbai, 21 May 2024 (Commoditiescontrol): After a significant surge in the previous week, Burmese Tur markets experienced a correction, with prices falling by Kyat 50,000 per metric ton (MT). Cost, insurance, and freight (CIF) prices also declined by $10 per MT, marking the third consecutive session of downward movement. This dip is attributed to demand easing to need-based levels.
Burma Tur prices reflected a weakened sentiment in major domestic markets, primarily due to inactivity among millers. Lemon prices across various centers also dropped by Rs 25-50 per quintal, mirroring the subdued demand from millers.
In contrast, African tur prices continued their upward trajectory. Sources indicate that the upcoming crop yield in African countries is projected to be 15-20% lower than usual due to ongoing drought conditions. This supply constraint is a key factor bolstering prices.
Tur International Prices In Key Indian Markets:
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Desi Tur in bilty trade, mixed trend persisted, influenced by local demand and availability. In Maharashtra, Line tur prices moved in the range of Rs 11,100 to Rs 12,700 per quintal. Similarly, Madhya Pradesh Line tur advanced by Rs 100, trading between Rs 12,200 to Rs 12,700 per quintal. Tur from the Nimar line also exhibited stability, with prices ranging from Rs 9,800 to Rs 11,200 per quintal.
In Mumbai, tur dal prices rose by Rs 100 kg for different variety and origin. Burma Lemon and Mozambique origin Tur dal prices advance while most of the desi variety tru dal maintained steady tone.
Spot Tur Dal Prices In Key Indian Markets:
Tur prices experienced a slight dip today due to cautious buying by mills at higher levels, but the overall outlook for the near term remains strong. The end of the mango season and soaring vegetable prices due to extreme temperatures across the country are contributing to this positive bias.On ther other hand anticipating a potential shortage in supply of Tur, millers are holding back on selling their Tur stock, further bolstering prices.
While millers are reluctant to sell at current prices, buyers remain active on a need-to-need basis. This dynamic is expected to keep prices within a wider range in the coming days, but the overall trajectory is likely to be positive. Demand for high-quality Tur seeds is expected to remain robust, ensuring that premium material prices remain strong.
In conclusion, the Tur market is poised for potential price increases in the near future, driven by a combination of seasonal factors, supply concerns, and strong underlying demand.
(By Commoditiescontrol Bureau; +91-9820130172)
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