Mumbai, 24 Apr 2024 (Commoditiescontrol):Domestic masur (lentil) prices in major Indian markets have stabilized after a recent decline. Local sources indicate reduced market arrivals as prices have fallen, coupled with weaker demand. This has kept prices within a broader range.
Meanwhile, prices for Canadian-origin red lentils (CIF) stand at $740-745 per MT, registering a $2 increase. Market observers cite tighter supplies as the reason for the Canadian price increase. However, expectations of expanded Canadian acreage along with falling domestic prices in India are likely to curb further price hikes in the Canadian market.
In the immediate future, masur prices are expected to remain range-bound. Indian farmers are waiting for government procurement to begin at MSP (Minimum Support Price). A slow pace of government purchases could lead to increased market arrivals, putting pressure on prices.
Additionally, a bumper Canadian crop is expected with supply becoming available by September/October, followed by Australia's crop in November. Abundant supply will likely exert downward pressure on masur prices domestically and internationally.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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