MUMBAI, March 25 (Commoditiescontrol): Imported Masoor price traded almost unchanged at Mumbai, Mundra & Hajira during the week ended on March 25th on limited mills trade activity and ongoing domestic arrivals.
The prices of Masoor of Canadian and Australian origin have gone up by Rs 50/100Kg in Kolkata due to steady demand from Bangladesh and regular purchases from mills. The Bangladesh government recently issued a fresh tender for 4000 tons of Chati Masoor (without shell) variety, and around 25,000 tonnes have already been exported to Bangladesh in the current season.
The current stock of Australian Masoor is approximately 1 Lakh tonne, equivalent to 3-month consumption, and the stock of Canada Masoor is around 5000 tonnes. However, imported Masoor stock are in strong hands who are not interested in selling at lower rates, and no overseas shipment is expected in the near term.
In Indore, domestic Masoor prices traded almost unchanged due to holidays, while in Kanpur, prices increased by Rs 50/100Kg as millers were active in need-based purchasing of the new crop. Meanwhile, Madhya Pradesh origin Masoor declined by Rs 75/100Kg for Delhi delivery as millers were inactive at higher rates.
Additionally, Masoor dal produced from Canadian origin Masoor increased by Rs 50 to Rs 7,200-7,400/100Kg in Mumbai due to need-based demand. However, the commodity produced from domestic origin Masoor at Katni remained unchanged at Rs 6,650-7,150/100Kg.
Despite the decrease in Tur production, its prices have not risen as expected. This could be due to a shift in demand towards other pulses such as Masoor and Matar. As a result of this shift in demand, Masoor prices may remain steady in the near future, even with a large Rabi crop of approximately 16 lakh tonnes. Additionally, a lower carryover stock of around 2.5 lakh tonnes, as opposed to 5 lakh tonnes last year, may also support Masoor prices.
Large-scale buyers and major corporations are actively participating in the market, seeking to build their inventory due to the shortage in Tur production during the last Kharif season. The expectation of the development of the El Nino weather event this summer may lead to an overall shortfall in the supply of pulses, further driving their interest in building up their inventory.
International Updates:
Canada is benefiting from increased Turkish lentil imports due to rising demand from Iraq. However, this year's Turkish imports are expected to be lower than in previous years due to an anticipated large domestic crop. The red lentil crop in Turkey has not been severely affected by the driest period in over 60 years, and growers anticipate a similar production to last year. Despite Australia's bumper harvest, Canada is expected to maintain its position in the Turkish market due to quality and logistical issues with Australian Masoor.
As per technical chart - Canada Masoor (Mumbai) - Counter-trend Rally / Next resistance at Rs 6,300. Click here
Trend: Several factors may cause Masoor prices to increase in the upcoming week. These are limited supply at lower rates, as strong buyers hold stock. A lower carryover stock and a slowdown in the supply of imported Masoor. Furthermore, the entry of bulk buyers and domestic and international corporates into markets. As they anticipate a shortfall in the supply of Tur, may further drive up the price of Tur, leading to an uptick in demand towards Masoor and other pulses. However, considering the large Indian and international crops, the upside for Masoor prices may be limited, and its prices in the midterm may depend on the price movement of Tur.
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
