Week Ahead: Mills buying at lower rates may support Tur prices.

MUMBAI, January 28 (Commoditiescontrol) – Domestic origin new Tur and select African originTur fell for the week ending January 28, 2023, due to dull buying interest from mills, sluggish Tur dal offtake, and ongoing domestic crop arrivals at producing centres.

On the other hand, Burma origin Tur traded firm by Rs 25-50/100Kg at Mumbai-Chennai as sellers inactive at lower rates despite the supply of new Burma Tur crop.

Domestic origin new Tur traded weak by Rs 150/100 at Akola in bilty trade due to cautious local & outstation millers and traders buying as they anticipate further fall in Tur prices due to ongoing arrivals and fear that they may face disparity in crushing Tur because Tur dal price may fall due to thin offtake in the near future.

Africa-origin Tur, such as Mozambique and Sudan, also remained weak by Rs 50-100/100Kg due to lower mills demand despite lower prices compared to Burma- domestic Tur and no supply pressure from its origin.

Prices of domestic Tur dal processed from the new crop Tur at Katni, Akola and Gulbarga dropped by Rs 100-300/100kg amid a low demand. Burma-Sudan and Mozambique-origin processed Tur prices extend fall by Rs 200/100Kg each due to a lack of buying interest.

Millers were hesitant to buy Tur at the current prices because there was little demand for Tur dal due to the availability of cheap vegetables. Further, Desi and Burmese Tur dal prices could come under pressure due to the availability of cheap dal made from African origin Tur.






At Yangon market, the Tur Lemon variety was firm by $5 at $835 per ton on a CNF Chennai basis. The landed cost of Tur at Indian ports was Rs 7,000/100kg as local buyers active to fulfil outstanding export commitment..The Burmese currency Kyat depreciate to 2875 per dollar compared to the previous week's closing of 2870 Kyat/dollar.



As per technical chart - Akola desi Tur (Pigeon Pea) - Consolidating in an uptrend / key support at Rs 7,300. Click here

Demand for Tur dal is expected at lower rates because of civil supply state government tenders and monthly retail counters. TNCSC issues an e-tender to purchase 20000 MT Tur Dal. Last date for online submission for which is 2.2.2023.

Trend: Tur price may trade in the range of Rs 200-300/100 kg up/down in the near term. Prices are likely to remain under pressure due to the consistent supply of new Burma Tur crops and the arrival of the domestic Tur crop at producing centres. Moreover, millers-traders were inactive at higher rates due to fear of government intervention if there was a rise in Tur dal price. However, at lower-level Tur may find support on need-based buying from millers apart from this empty pipeline, and smaller crop size will limit the downside. On the immediate front, the TNCSC tender could provide some support to Tur prices in the near term.

(By Commoditiescontrol Bureau; +91-9820130172)