Mumbai, 04 Oct 2024 (Commoditiescontrol):Lemon Tur (pigeon pea) prices remained stable in the Burma local market on Friday due to negligible trading activity. However, CNF (Cost and Freight) quotes saw a sharp decline, aligning with Indian spot prices. Despite this, prices must decrease further to make imports viable in India. The drop in CNF prices is also attributed to market participants squaring off their long positions for October forward contracts.
In the domestic market, Desi and African Tur continued their downward trend, while Burma Lemon Tur held steady.
In Mumbai, the Sudan and Matwara varieties dropped by ₹100 and ₹150 per quintal, respectively, while Mozambique White remained stable. The Gajri and Dodoma varieties each saw a ₹100 per quintal decline. Lemon Tur prices stayed unchanged amid limited trading due to low stock availability.
Chennai’s Lemon Tur market also remained steady.
In Delhi, Burma Lemon Tur experienced a ₹100 per quintal decline, reflecting concerns over October contract deliveries.
Tanzanian Tur prices, set for October shipment, held steady at $805 per metric ton CNF Navasheva, translating to ₹7,010 per quintal. However, there are signs of potential further price drops due to increasing supply pressures.
Tur International Prices In Key Indian Markets:
In Maharashtra’s Bilty trade, stockists continued selling, leading to a ₹100 drop in Akola and a ₹50 drop in Latur. Prices remained stable in Solapur and Nagpur, while Madhya Pradesh’s Indore market reported a ₹100 decline, and Katni saw a ₹50 dip.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Imported tur dal prices weakened in Mumbai, while desi tur dal prices fell in Gulbarga and Mumbai. Other markets, such as Akola, Latur, Katni, and Nagpur, reported steady prices.
Spot Raw Tur Dal Prices In Key Indian Markets:
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Looking ahead, demand for pulses is expected to rise significantly with India’s wedding season. According to the Confederation of All India Traders (CAIT), 4.8 million weddings are forecast from November to December, potentially boosting pulses demand.
In the near term, Tur prices are likely to stay under pressure due to rising supply and declining forward quotes for African Tur. Market activity may slow further post-Dussehra as the festive season impacts trading. However, demand is expected to rebound after Diwali with the onset of the wedding season. Despite this, price gains may be limited by the availability of low-cost African Tur and anticipation of arrival of the Kharif crop.
(By Commoditiescontrol Bureau; +91-9820130172)
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