MDEX / KLC CLOSE TODAY (28 Nov 2022)
Login ID:
Password:
Partner Login
Contact Us : 7066511911

Week Ahead: Masoor may find support at current levels

24 Sep 2022 11:42 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI, 24 Sep (Commoditiescontrol): Prices of imported Masoor, such as Canada-Australia origin Masoor eased on thin trade activity amid upcoming supplies from overseas.

On other hand, domestic variety Masoor witnessed steady to firm tone in prices, supported by mills buying at lower rates on immediate requirement for crushing.



However, fall in CNF price quoted in the overseas market has stabilized and, on the basis of prevailing CNF rates, existing spot prices are below landed cost of imported Masoor.

Meanwhile, depreciation in Rupee to 81.25 against USD make imports costlier.



International Market Update


Prospects for a bumper lentil crop across Australia are weighing on international bids in a thinly-traded market. Though the price has stabilised time being and it seems that the market has discounted the bumper crop in North America and Australia for time being.


Trend: Masoor prices are likely to trade steady to firm and may find support at current level in the domestic market as existing spot prices are below the landed costs of imported masoor on the basis of prevailing CNF. Moreover, fall in CNF price quoted in the overseas market has stabilized. It seems higher supplies for the current crop year is already discounted in prices for time being. Further, there should be some pick-up in demand due to the upcoming Deepawali festivals as well. Hence, it is very likely that the price may recover from the current level.

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


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Special Reports
Mustard Cake (Jaipur) Counter-trend Rally / Key Resis...
US soybean net export sales for Nov 11-17 down noticea...
Castor Oil (Kadi) Bullish Price Trend / Next Resistan...
Soy Refined Oil (Indore) Positive Short-term Trend / ...
Mustard Oil (Jaipur) Positive Short-term Trend / Next...
more
Top 5 News
Mustard Cake (Jaipur) Counter-trend Rally / Key Resis...
Kabuli Chana (Indore) Short-term Extended / Approachi...
Weekly: ICE Cotton stumbles upon pacy crop progress, po...
Week Ahead: Limited downside in Tur prices; may find su...
Week Ahead: Need-base buying of good quality Moong will...
Top 5 Market Commentary
Tepid demand weighs on cotton yarn prices in Delhi, buy...
ZCE COTTON AND YARN EVENING CLOSE 28 NOV 2022
DCE OIL COMPLEX EVENING CLOSING 28 NOV 2022
Guar seed, gum prices settle firm on weak arrivals
Turmeric prices nearly steady at spot, futures
Copyright © CC Commodity Info Services LLP. All rights reserved.