Mumbai, 22 Jul 2024 (Commoditiescontrol): Despite significantly reduced arrivals, masur prices have remained stable in major consuming markets over the past 8-10 sessions due to sluggish buying activity. Arrivals in key markets were around 490 tons, a 30% decrease from the previous week. In Delhi, dull buying activity led to a price drop of Rs 25 per quintal.
Market analysts expect masur prices to remain range-bound with a positive bias in the coming days, as traders foresee an uptick in demand. Given the already low arrivals, even a slight increase in demand is likely to support prices.
Internationally, favorable crop conditions in Canada have led to a significant drop in prices this week. The latest reports indicate that 82% of Saskatchewan's pulse crops are in good to excellent condition. With drier weather expected to follow the recent heavy rains, crop conditions are likely to improve further.
This improvement has resulted in a notable decrease in farm gate prices. Red lentil prices are currently reported at $533 per metric ton, down $16 from the previous week. Meanwhile, September/October/November delivery quotes remain stable in the range of $517-533 per metric ton.
Considering the recovery in crop conditions in Canada and the significant decline in farmgate Masur prices there last week, domestic prices are expected to decline in the coming days.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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