Login ID:
Password:
Partner Login
Contact Us : 7066511911

Week Ahead: Tur prices likely to stay under pressure due to cheaper African supply

20 Nov 2022 4:42 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI, 19 Nov (Commoditiescontrol) - Prices of African origin Tur along with domestic variety continued to trade downside for a fourth straight week during the week ended 19th Nov 2022 amid thin mill buying, and consistent supplies from Africa.


On other hand, Burma-origin lemon variety Tur price was steady to firm despite Myanmar's falling prices as the Government agency is active to procure Burma Tur at base price of Rs 7,950/100Kg, much higher than the current market price for buffer stock. As per market sources, the government had procured around 12000 MT.

Vessel M V PAN JASMINE from Africa had discharged 4,304 MT till 18th Nov at Mumbai port. The vessel is carrying 26,945 MT Mozambique Tur.

Vessel M V PH MINH GIANG carrying 19,360 MT Mozambique Tur arrived at Mumbai port and got a berth at BPX.

Vessel M V JAOHAR UK carrying 26,715 MT Mozambique Tur is expected to arrive at Mumbai port on 23rd November 2022.

The price of all varieties of Africa Tur traded lower by Rs 150-200/1000Kg.

Also, domestic variety Tur at Akola market bilty basis price extended fall by Rs 150/100Kg following imported variety and also offtake in Tur dal reported sluggish.

The fall in imported Tur dal prices slipped down for the third straight week by Rs 100-200/100Kg. Domestic Tur dal also traded lower by Rs 200-300. Processed Tur may not sustain higher prices due to the availability of Africa Tur processed pulses at cheaper rates and also cheaper vegetable prices during winter.





At the Yangon market, prices of the Tur Lemon variety fell by $30 to $840 per ton on a CNF Chennai basis. At prevailing CNF rates and exchange rates landed cost of Tur at Indian ports was at Rs 7,050/100kg. Meanwhile, Burmese currency was unchanged to 2900 Kyat/dollar similar to the previous week's closing. The availability of Tur stock was reported at 20,000 tonnes.


As per Burma-based local traders, Indian buying inactive in Tur due to a consistent supply of African-origin new crop Tur in Indian ports and domestic Indian domestic crops will start arriving in months' time.



Trend: Tur prices are likely to stay under pressure due to consistent cheaper supply from Africa. Moreover, Tur dal processed from desi and Burmese lemon varieties may not sustain higher prices due to the availability of Africa Tur processed pulses at cheaper rates and also cheaper vegetable prices during winter. Stockiest may stay active to liquidate their stock in the coming days as supply pressure will be added by the arrival of new India's domestic crop by year-end. But until domestic arrivals start shortage of Burma & domestic Tur will support Tur prices at lower rates. Meanwhile, the Government agencies are active to procure Burma Tur at base price of Rs 7,950/100Kg, much higher than the current market price for buffer stock. As per market sources, the government had procured around 12000 MT. Also, the government active in procuring Africa Tur at a base price of Rs 5,980/100Kg. Moreover, Tamil Nadu civil supply issues e-tender to purchase 20000 MT Tur Dal and there is hope that the TNCSC award purchase tender on 21st Nov. Burma Tur price at Chennai firm 1.06% on weekly basis, down 3.06% for the month, but up by 19.75% annual basis. On a monthly trend, Tur desi (Akola) price weak around 3.16%, weekly basis down by 1.92%, and on annual basis up by 24.90%.

(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
Week Ahead: Tur to get support on mill buying despite s...
Week Ahead: Need-based buying of good quality Moong wil...
Week Ahead: Urad to witness narrow price movement, Foll...
Week Ahead: Chana prices likely to find support from mi...
Week Ahead: Kabuli Chickpea to find support at the lowe...
more
Top 5 News
Cotton (Akola) Short-term Oversold / Due for a Bounce...
Rice Bran Refined Oil (Ludhiana) Trending Lower / Nex...
The Madhya Pradesh government begins the registration p...
Week Ahead: Tur to get support on mill buying despite s...
Weekly: ICE Cotton end lower this week; risk-off sentim...
Top 5 Market Commentary
Chana price trades mixed at select local market
Coriander prices rise at Guna
Tur gain at select market on mills buying
Turmeric prices in Duggirala, Nizamabad, remain stable....
Jeera price extend fall at Gujarat as sellers active o...
Copyright © CC Commodity Info Services LLP. All rights reserved.