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Week Ahead: Weekly: White Pea Prices may Continue to Soar as Demand Surges and Supply Dwindles

25 Mar 2023 7:56 pm
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Mumbai, March 25th (Commoditiescontrol): The price of White Pea continued to rise in the week ending March 25th, as there were lower arrivals due to adverse weather conditions in producing centres. There was increased buying interest from local and outstation traders from places like Chennai, Hyderabad, Assam, and Bengal. In addition, multinational companies were also actively buying, and a firm trend in other pulses further supported the price.

Millers were actively buying average-quality products for crushing while seeking superior-quality products for filtering purposes, specifically for Chole, Namkeen, and Chat items.

Matar dal was traded in the spot market at a price range of Rs 4,800-5,000 per 100 kg in Orai, Mahoba, and Lalitpur.

In Kanpur, the price of White Pea increased by Rs 175 and now ranges between Rs 4,450-4,650 per 100 kg, depending on the quality. Similarly, due to good demand, Vatana besan and dal increased by Rs 75-100 and are currently priced at Rs 3,725 per 50 kg and Rs 5,400 per 100 kg.

International update:

Export movement of has been steady, stocks in Canada are rising relative to prospective demand, putting pressure on both grower and export values. The key change has been the virtual loss of access to China's feed pea market. Shipments for human consumption remain good, but overall shipments have declined significantly from what was seen in 2020-21.

Trend: The White Pea market may experience a further increase of Rs 200-300/100Kg, as there is expected to be less supply from production centres during the financial year-end market closure. Moreover, the regular purchases made by local millers and buyers and the activity of outstation traders from Chennai, Hyderabad, Assam & Bengal are likely to provide additional support for the price. A stable trend in other pulses and the presence of multinational companies for procurement in the market are expected to sustain the positive market sentiment."
(By Commoditiescontrol Bureau: 09820130172)

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