Week Ahead: White Pea prices to remain range bound on limited trade

MUMBAI, 25 June (Commoditiescontrol): White Pea prices traded almost unchanged at Kanpur market last week ended on 25th June 2022 on limited buying activity from local and outside traders.

Current year crop arrivals of White Pea are still continuing in major producing centers of Uttar Pradesh due to better yield this year.

White Pea prices at the Kanpur market traded flat at Rs 4,625-4,825/100Kg.

Similarly, Vatana besan and dal traded unchanged each at Rs 3,700/50Kg and Rs 5,700, respectively.



International markets

Canada's new pea crop harvesting is likely to start in July. Old crop prices were quoted lower as farmers are in process of liquidating old stocks. The price for the old crop was $510/MT(bulk) CPT Vancouver. Whereas new crop was quoted at around $435/MT CPT Vancouver for July/Aug.

Australia pea was quoted $436/MT CPT Australia (bulk).Black sea (non-Russian) CFR Karachi buyer at $475/MT and CFR Bangladesh at $500/Mt.

Trend: Range-bound trade of Rs 100-200/100Kg is likely to be witnessed in White pea due to regular buying to meet immediate requirements. There is a limited downside from current levels as new crop arrivals may decrease in near future and also no supply from overseas due to import restrictions. The firm trend in Chana prices will support prices.

(By Commoditiescontrol Bureau; +91-22-40015513)