Mumbai, 08 Apr 2024 (Commoditiescontrol): Prices for masur (lentil), a staple food in India, displayed a mixed trend across the country this week.
In the major markets of Madhya Pradesh, prices remained generally stable. Farmers are holding back some of their harvest, anticipating the implementation of the government's Minimum Support Price (MSP) buying program in mid-April. Although weather conditions have improved, leading to better quality arrivals, the lentils are reportedly smaller in size compared to prior harvests.
Further north, prices for choti masur (small lentil) in Uttar Pradesh continued to fall for a third consecutive session. The peak harvest period is driving higher market arrivals and putting downward pressure on prices.
Bilty trade for masur remained steady in major markets, with steady demand evident at lower pricing levels. Prices for imported masur showed similar stability. Due to quality concerns with the domestic crop, buyers are seeking better quality from imports, supporting prices.
Red lentil prices (FOB) in Canada declined marginally to $530 per metric ton, a $1 reduction. This slight dip is attributed to the expectation of farmers increasing planting areas this season, anticipating attractive prices.
The upside potential for international prices is projected to be limited as Canadian acreage for the upcoming crop looks set to increase. Additionally, consistent levels of imported supply suggest limited chances of significant price increases for imported masur. However, the government's MSP buy at Rs 6425/quintal, notably higher than current prices, may offer a floor and prevent major short-term price declines.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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