Mumbai, 08 Oct 2024 (Commoditiescontrol): Lemon Tur (pigeon pea) prices remained unchanged in Burma’s local market on Tuesday amid muted trading activity. However, Cost and Freight (CNF) quotes continued to decline, aligning with falling Indian spot prices. In Indian domestic markets, prices for both Desi and imported Tur from Burma and Africa also fell.
Adding pressure to the market, the Indian government has launched an investigation into the price gap between wholesale and retail levels. While Tur and Urad prices have dropped nearly 10% in major mandis over the past three months, retail prices have not reflected the same decrease. According to the Department of Consumer Affairs, the price ratio between raw Tur and processed Tur dal has widened to 1.48 from 1.37, suggesting mills may be holding back Tur dal supply to keep prices elevated. This investigation is expected to trigger increased selling, potentially driving down Tur dal prices further.
In India’s domestic market, Lemon Tur followed the downward trend of Desi and African Tur varieties. In Mumbai, Sudan and Lemon varieties fell by ₹100 per quintal, while Matwara Tur dropped ₹50. Mozambique White and Gajri Tur declined by ₹100, and the Dodoma variety saw a similar drop. Lemon Tur prices also decreased by ₹100 in Delhi and Chennai, with low stock levels limiting trading activity.
Tanzanian Tur, scheduled for October shipment, held steady at $805 per metric ton CNF Navasheva (₹7,010 per quintal). Despite reports of diminishing supplies from Mozambique and Tanzania, availability has remained stable, and anticipated price impacts have yet to materialize. Forward shipment rates from these origins continued their downward trend.
Tur International Prices In Key Indian Markets:
In Maharashtra’s Bilty trade, stockists maintained a selling strategy, resulting in a ₹200 per quintal drop in Akola and Latur. Solapur and Nagpur saw stable prices, while markets in Madhya Pradesh suffered losses due to increased selling pressure. Indore, Maharashtra, and Karnataka Line Tur prices fell by ₹100 per quintal, with Katni reporting a sharp decline of ₹250.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
In Mumbai, imported tur dal prices steadied after previous losses, while Desi tur dal prices fell in Katni, Latur, and Mumbai. Other markets, including Nagpur, maintained a steady tone.
Spot Raw Tur Dal Prices In Key Indian Markets:
Tur prices, typically expected to rise during Navratri, have remained subdued, signaling a notable slowdown in demand. Mills are exercising caution, likely due to expectations of a bumper Kharif crop and adequate Tur dal stocks, resulting in slower crushing activity. Over the past two months, imports have averaged 100,000 tons per month, largely from Africa. Despite limited domestic supply and steady imports, the market has struggled to gain support, suggesting either a significant demand drop or an underestimation of domestic Tur stocks.
Looking ahead, market volatility may persist as October shipments of Lemon Tur are finalized. Trading is expected to slow post-Dussehra due to the festive season. furhter, the government’s investigation into the price gap between Tur and Tur dal could lead to a drop in Tur dal prices, potentially limiting any significant recovery in Tur prices.
(By Commoditiescontrol Bureau; +91-9820130172)
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