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Desi Tur Prices Extend Decline on Weak Demand and High Moisture Levels; Post-Sankranti Recovery Anticipated

13 Jan 2025 6:39 pm
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Mumbai, 13 Jan (Commoditiescontrol): Desi Tur (pigeon pea) prices extended their decline on Monday across major domestic markets despite a significant reduction in arrivals, particularly in Karnataka, as farmers reduced market participation ahead of the Pongal festival. Anticipation of increased arrivals in Maharashtra's Vidarbha region and limited mill purchases due to the high moisture content in the produce continued to weigh on prices. Suboptimal quality arrivals, unsuitable for producing Tur Fatka, further squeezed crush margins for mills, exacerbating the downward trend.

The impact of domestic market trends was evident in the international sphere, where Burma Lemon Tur prices weakened further. Cost and Freight (CNF) India quotes fell by $25 to $790 per metric ton, while local prices in Yangon’s mandis dropped by 1,30,000 kyat to 29,00,000 kyat per metric ton. This marked the third consecutive day of price declines in Yangon, driven by limited stockist participation. Resale prices in Chennai reflected this trend, slipping by $35 to $780 per metric ton, mirroring bearish sentiment across the segment.

In India, domestic prices for Burma Lemon Tur held steady in Chennai and Mumbai. However, the Delhi market reported a ₹150 per quintal decline due to weak trade activity. Prices for African-origin Tur remained stable, reflecting limited trading activity and a cautious market sentiment.

Tur International Prices In Key Indian Markets:





The bilty trade segment saw widespread price declines for Desi Tur across major regions. In Maharashtra’s Vidarbha region, prices eased by ₹100–₹200 per quintal despite negligible arrivals, with Nagpur and Akola being particularly affected. The Marathwada region saw sharper declines of ₹100–₹300 per quintal, attributed to weak upcountry demand as millers anticipated further pressure with the commencement of arrivals in Vidarbha. Processing hubs in Madhya Pradesh and Uttar Pradesh also recorded price drops of ₹100–₹300 per quintal, while markets in Chhattisgarh and Tamil Nadu remained stable.

Mandi trade activity was subdued overall, with price declines reported in Maharashtra's Amravati and Latur markets due to weak demand. Hinganghat was a notable exception, where prices surged sharply by ₹670 per quintal, driven by localized factors. Karnataka saw prices decline by ₹149–₹350 per quintal despite significantly lower arrivals ahead of Pongal. Overall, Tur arrivals across Commoditiescontrol-monitored markets fell by 31.7%, dropping to 5,791 metric tons compared to the previous session’s 8,464 metric tons.

Spot Raw Tur Bilty And Mandi Prices In Key Indian Markets:




Falling raw Tur prices put additional pressure on Tur dal prices across key markets, including Akola, Gulbarga, Katni, Latur, and Nagpur. Milling activity remained sluggish as high moisture levels in the crop continued to disrupt operations. Many mills in Vidarbha delayed crushing due to late arrivals, while improving moisture content in Karnataka and Marathwada crops is expected to boost milling activity in the coming weeks. This could lead to an increase in Tur dal supplies, exerting further downward pressure on prices.

Spot Raw Tur Dal Prices In Key Indian Markets:



Outlook for the Tur market remains bearish in the short term as arrivals are set to increase, particularly from Vidarbha. High moisture content in the new crop is likely to limit millers’ demand initially, further pressuring prices. However, as moisture levels decline post-Sankranti, improved demand from millers is anticipated. The quality of the Vidarbha crop is reported to be good, and market activity is expected to gain momentum after the festival. Government procurement activity, which is likely to intensify, could also lend support to prices, providing relief to the oversold Tur market. Despite the near-term challenges, the market is expected to stabilize as demand improves and procurement measures take effect, though further price corrections cannot be ruled out in the interim.

(By Commoditiescontrol Bureau; +91-9820130172)


       
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