Mumbai, 05 dec (Commoditiescontrol):Tur (pigeon pea) prices continued their downward trend across Indian markets on Wednesday, driven by a focus on declining Burma Lemon Tur rates, overshadowing concerns over Karnataka's crop losses. Prices weakened for both desi and imported Tur in bilty trade, while Tur dal showed signs of recovery in select markets.
In Karnataka's Kalaburagi district, a significant Tur-producing area, nearly 2 lakh hectares out of the 6.22 lakh hectares sown have turned unproductive due to a severe 70% rainfall deficit in November, according to The Hindu. The region recorded only 5 mm of rainfall against the normal 20 mm, leading to moisture depletion in shallow black soils and widespread crop wilting. Additionally, fungal infections have worsened the losses. Meanwhile, reports from Maharashtra, another key Tur-growing state, indicate prospects for a bumper harvest, mitigating overall supply concerns.
As anticipated, Burma Lemon Tur prices continued their decline in the Burma market. Local prices dropped by MMK 50,000 per MT, while CNF India prices fell by $40 per MT, settling at $970 per MT. Despite the decline, Chennai resale rates remained steady at $955 per MT. With ready delivery prices nearly at par with January delivery rates, further downside in Burma Lemon Tur prices appears limited in the near term.
In India, Lemon Tur prices extended their decline. The Mumbai market recorded a drop of ₹75 per quintal, while Chennai saw a ₹50 per quintal decline. Current resale prices for CNF India trade in Chennai, at $955 per MT, translate to a landed cost of approximately ₹8,400 per quintal. This indicates the potential for further declines; however, limited stock availability is preventing prices from fully aligning with landed costs.
Tur International Prices In Key Indian Markets:
Karnataka’s increased arrivals are influencing prices in neighboring states. Maharashtra's Solapur market received steady inflows of about 60 truckloads, exerting pressure on prices. While Madhya Pradesh reported a decline in prices, markets in Chhattisgarh remained stable. In Karnataka and Maharashtra, some mandis saw weaker mill demand, further contributing to price pressures.
Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:
Despite this, Tur dal prices have shown resilience in major markets, holding steady in Mumbai, Akola, and Gulbarga. However, a slight decline was noted in Katni.
Spot Raw Tur Dal Prices In Key Indian Markets:
The Indian Tur market remains volatile as it grapples with conflicting factors of reduced domestic output and weakening international prices. Market participants are closely monitoring government procurement policies for the upcoming crop, as well as the strategies of stockists and millers. Prices are likely to remain unstable until there is more clarity on Karnataka's crop losses and the pace of new arrivals in Myanmar.
(By Commoditiescontrol Bureau; +91-9820130172)
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