More Stories

Informist, Monday, Sep 23, 2024

 

MUMBAI – Tur prices are likely to increase in the coming days as there is firm demand from millers, according to the India Pulses and Grains Association's weekly market outlook. Millers' tur demand for crushing is due to better margins. There are limited domestic stocks, and shipments from Africa are also likely to be delayed, which will aid the prices, the report said. 

 

Tur dal purchase tenders from Andhra Pradesh may also support the prices. Prices of tur from Burma and Sudan rose in the week ended Saturday, as stockists held back and there was firm demand from millers for crushing due to better margins and lower prices compared to domestic tur, the pulses body said. Exports from Mozambique are slow due to port congestion, with no vessels expected to be berthed until Oct 20 which will again support prices, according to market sources. 

 

Moreover, the government is unlikely to extend tur stock limits beyond Sep 30, which might lead to hoarding and increase prices eventually. 

 

Typhoon Yagi caused strong winds and heavy rain, damaging farms in Myanmar. Meanwhile, the agriculture department is encouraging farmers to plant cash crops in flooded fields, which will help with replanting. However, tur planting in Myanmar is complete, and the harvest is expected in January. 

 

The future of tur prices will depend largely on supply from Africa and the weather in kharif-producing areas. Kharif tur planting is higher than last year due to favourable weather, which could limit gains, according to the association. Tur prices in Solpaur, Maharashtra, were at 10,500-10,850 rupees per 100 kg, as on Friday, Mukesh Sanklecha, a local trader, said. Similarly, prices of tur in the benchmark market of Kalaburagi in Karnataka were at 10,000-11,059 rupees per 100 kg on Friday, according to data from the association.  End

 

Reported by Taniva Singha Roy

Edited by Manisha Baxla

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.