Mumbai, 20 Sep 2024 (Commoditiescontrol): Tur prices in the domestic market have risen, driven by Burma Lemon Tur and Sudan Tur, as stockists and importers have slowed sales at lower levels. Reports suggest the government will not extend the stock limit for Tur beyond September 30, signaling reduced intervention as prices stabilize. This expectation may have prompted stockists and exporters to hold back sales. African Tur, excluding Sudan, also recorded gains, though to a lesser extent compared to Burma Lemon and Sudan Tur, despite reports of slower shipments from Mozambique due to weak selling interest and China's purchases. Delays at Mozambique ports, caused by congestion, have yet to significantly impact prices. Meanwhile, new crop African Tur in forword trade continues to trade well below domestic spot prices.
In Mumbai, Lemon Tur prices rose by ₹300 per quintal for the second consecutive day, while Sudanese Tur increased by ₹400. Mozambique's White and Gajri varieties added ₹100 each, although prices for Dodoma and Matwata remained unchanged. Chennai also saw a rise in Lemon variety prices by ₹300 per quintal, while Delhi experienced a modest increase of ₹100.
In Myanmar, Lemon Tur prices held steady as stockists engaged in buying at lower levels, with CNF prices from Myanmar to India remaining unchanged due to limited trading activity. The anticipated landed cost of African Tur, especially from Mozambique and Tanzania, arriving between September and October, is projected to be between ₹7,600 and ₹7,800 per quintal at Indian ports. This competitive pricing continues to exert downward pressure on domestic markets.
Tur International Prices In Key Indian Markets:
In Maharashtra's All Expenses Paid (Bilty) trade, prices strengthened as stockists were less inclined to sell at lower levels. Markets in Akola, Latur, and Solapur recorded a ₹100 rise, while Nagpur maintained a steady tone, albeit facing selling pressure that contributed to recent price drops. In Madhya Pradesh, Tur prices gained ground in Katni and Indore, advancing by ₹200 and ₹100 per quintal, respectively.
Mandi trade remained largely stable, with markets in Hinghanghat, Gulbarga, and Kurnool benefiting from fresh buying activity.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Tur dal prices have also shown a steady-to-firm trend, reversing a recent decline due to renewed demand. Price stability in certain centers can be attributed to reduced mill buying, as some mills are holding large inventories in anticipation of increased African imports.
Spot Raw Tur Dal Prices In Key Indian Markets:
Tur prices are currently oversold in the short term. If the slowdown in African supply persists, as reported in the trade, we can expect a continued recovery in prices. Additionally, if the government does not extend the stock limit beyond September 30, it would signal a reduction in intervention, likely supporting further price increases. However, the upcoming Kharif crop is expected to be robust, which may cap any significant gains.
(By Commoditiescontrol Bureau; +91-9820130172)
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