MUMBAI, 25 June (Commoditiescontrol) - Both imported-desi varieties Tur continued to move up for the third consecutive week amid improved buying by the mills. Also, a slow down in domestic arrivals especially average quality was supportive for the market.
As per market participants, there is limited selling interest for the good quality Tur.
AS per data published by GOI ministry of Agriculture, India 2022-23 Kharif Tur acreage was down 55% (compared to the same period last year) as of June 24 at 2.35 Lakh Ha as against 5.21 last year for 2021 and 8.83 lakh hectares for 2020. Such a drastic reduction in acreage is due to the delay in Monsoon. Though the monsoon has recovered in the last few days still recovery is not sufficient to make up losses. However, there is still time available for sowing and the window is open till July last.
Apart from loss in acreage due to delayed monsoon another reason is the shift in acreage to other crops such as cotton and soybean due to better returns further as time passes farmer preference will reduce as Tur takes around 110 days to ripe and late sowing will delay Rabi crop sowing.
Meanwhile, inventory of Tur and Tur dal is limited in the pipeline due to uncertainty about government regulation stockiest are still inactive.
Tur lemon variety of Burma-origin gained by Rs 125 at Rs 6,300/100Kg at Mumbai nad Rs 6250/100kg at Chennai following firm cues from domestic markets. Moreover, prices also received support due to less ready stock, and lower imports due to price disparity. Landed cost of Burma origin Tur at Chennai in the container is around Rs 6,600/100Kg and for Mumbai at Rs 6,625, respectively indicating huge import disparity.
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Similarly, Tur of African origins were up in the Mumbai market. Tanzania origin Arusha and Matwara varieties were up at Rs 5,500-5,550/100Kg and Rs 5,450, respectively. Mozambique origin Gajri variety was also gained at Rs 5,400-5,450. Malawi Tur also moved higher at Rs 4,950-5,050. No fresh supply of African origins will be available before the harvest of the new crops in September.
In the Yangon market, the Tur Lemon variety was offered unchanged at $820 per ton, on a CNF Mumbai basis. While quotes for CNF Chennai June/July shipment were $820/Mt.
In domestic markets, desi Tur prices moved higher by Rs 75 during the week to close at Rs 6,575-6,600/100Kg in bilty trade at benchmark market Akola tur was up in the range of Rs50-100/100kg in other domestic markets. A similar rise of about Rs 100/100kg was seen in Tur Dal.
Trend: Tur prices are likely to remain firm as there could be a sharp fall in acreage and production of Tur this year due to deficient rain in the pulses growing belt and expectations of a shift in acreage from Tur to other crops. In the near term, a pick-up in seasonal demand will support the prices. But long term trend will depend on the revival of the stockiest and trade participants' interest in increasing inventory level. Uptill now stockiest are almost out of market and trade participants prefer to keep inventory to meet immediate requirements only. This is due to fear of government interference in the market to keep prices under check.
(By Commoditiescontrol Bureau; +91-22-40015513)
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