Mumbai, 01 Oct 2024 (Commoditiescontrol):Tur (pigeon pea) and Tur dal prices continued their downward trajectory in domestic markets on Tuesday, weighed down by sluggish buying and an influx of lower-priced African Tur. Anticipation of a strong Kharif harvest further suppressed processor demand, intensifying the price decline.
Domestic desi Tur prices declined as millers limited purchases to immediate needs, driven by lower-priced African Tur and expectations of a bumper Kharif crop.
In Burma, Tur prices remained stable, although trading activity was limited due to uncompetitive export prices. Current spot prices for India Lemon Tur would need to fall by an additional $100 on CNF India terms to make exports feasible.
Imported varieties showed mixed results in domestic markets. Mozambique (White/Gajri) and Tanzania Matwara prices softened in Mumbai, while other African-origin varieties, including Sudanese and Dodoma, held steady. Lemon Tur prices in Mumbai dropped by ₹100 per quintal, mirroring declines in Chennai and Delhi, as African-origin Tur continued to apply downward pressure. The significant premium of Burma's Lemon Tur over African varieties raises concerns about the sustainability of current price levels.
African-origin Tur remains under pressure due to steady imports, with forward quotes for African Tur continue to decline. Purchases are restricted to short-term needs, further weakening demand. Tanzanian Tur, slated for October shipment, is quoted at $810 per metric ton on a CNF Navasheva basis, translating to a landed cost of ₹7,050 per quintal, indicating potential for further price drops.
Tur International Prices In Key Indian Markets:
In Maharashtra’s Bilty trade, stockists have resumed selling, causing prices to drop. Akola markets recorded a ₹75 per quintal fall, while Latur, Solapur, and Nagpur saw declines of ₹100-200 per quintal. Key markets in Madhya Pradesh, including Karni, also saw price drops, while Indore remained stable.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Tur dal prices have also taken a hit, with African-origin Tur dal falling in Mumbai, and Desi Tur dal seeing declines in Katni, Latur, Mumbai, and Nagpur.
Spot Raw Tur Dal Prices In Key Indian Markets:
The 2024 Kharif season has seen a notable increase in pulse cultivation, contributing to a positive outlook for India's agricultural output. By September 27, the total area sown for pulses had reached 128.10 lakh hectares, an increase of 8.83 lakh hectares from the 119.27 lakh hectares recorded during the same period last year. Arhar (pigeon pea) continues to lead, with an area coverage of 46.50 lakh hectares, up by 5.76 lakh hectares compared to the previous year’s 40.74 lakh hectares.
Analysts predict price volatility will persist until Navratri due to low market liquidity. Post-Navratri, demand is expected to taper off, while increased African Tur supplies in late October may cause further price declines.
(By Commoditiescontrol Bureau; +91-9820130172)
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