Mumbai, 01 Apr 2024 (Commoditiescontrol): As the new financial year gets underway, prices for matar (yellow peas) are exhibiting stability with a slight upward trajectory. This is due to a confluence of factors, including renewed buying interest, limited market supplies stemming from low arrivals, and several markets remaining closed. Overall trading activity on the first day of the financial year was slow.
In areas of Uttar Pradesh like Jhansi and Rath, white matar prices have experienced a rise of Rs 100 per quintal, possibly in response to increased demand following the market restart after downtime.
Desi Matar price in bilty trade in Kanpur and imported matar in Kolkata saw a Rs 50 increase per quintal. In Mumbai, however, imported matar prices have remained stable.
Industry experts anticipate that the price of matar will remain firm, likely due to reduced pressure from imports as imports are expected to slow down going forword. Further current market prices are below the landed cost of imported matar, hence major stockiests and importers will be reluctant to sell at current prices. Additionally, recent crop losses caused by rain, along with consistent demand for matar, are expected to provide further price support.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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