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
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...
RBD Palm Olein (Kandla) Counter-trend Rally / Next Re...
more
Top 5 News
US soybean net export sales for Nov 11-17 down noticea...
US Cotton net export sales reductions for Nov 11 -17 at...
Castor Oil (Kadi) Bullish Price Trend / Next Resistan...
Akola Desi Tur (Pigeon Pea) Trending Higher / Next Re...
Soy Refined Oil (Indore) Positive Short-term Trend / ...
Top 5 Market Commentary
Burma Urad & Madhya Pradesh Masoor firm at Delhi
Major producing states witness arrival of 97,600 bales ...
Imported Tur declines at Mumbai, Tanzania Chana gain
Burma Urad-Tur prices in $ terms at Chennai
Sugar prices remain nearly steady
Copyright © CC Commodity Info Services LLP. All rights reserved.