Mumbai, 22 Mar 2024 (Commoditiescontrol): The Mumbai benchmark market saw no change in the price of imported yellow peas today. Canadian and Russian yellow peas remain stagnant despite higher import volumes. Market sources cite importers' reluctance to sell at a loss due to landed costs exceeding current spot prices.
Meanwhile, prices for desi matar (domestic peas) showed mixed movement. In Kanpur, Uttar Pradesh, prices for Uttar Pradesh and Madhya Pradesh origin matar fell by Rs 75/quintal amid increased arrivals. Lalitpur saw yellow peas prices decline, while green peas inched up by Rs 100/quintal.
Industry analysts predict continued pressure on yellow pea prices due to ongoing arrivals and the arrival of lower-quality crops in some areas. However slow sales of imported matar due to hihger landed cost could limit further declines. With prices already down by 40% since the start of the season, factoring in increased imports and domestic supply, the market may find some support.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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