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Informist, Monday, Oct. 7, 2024

 

NEW DELHI – Tur prices are likely to continue to be on the downtrend due to weak demand and anticipation of higher production due to an increase in kharif tur sowing compared to last year, the India Pulses and Grains Association said in a weekly outlook. Increasing imports of cheaper tur from Africa is also likely to weigh on prices. 

 

Stockists and importers are likely to remain active sellers in preparation for a bumper domestic crop expected by the end of November. Tur production is estimated at 3.4 million tonnes, up 3.17% from last year's 3.3 million tonnes, according to final estimates for 2023-24 (Jul-Jun) released by the Ministry of Agriculture and Farmers' Welfare on Sept. 25.

 

Meanwhile, demand will also be need-based until the new crop arrives, which will weigh on prices, it said. 

 

Imported varieties from Burma and Africa also saw prices decline due to ongoing lower-priced imports, according to the association. Forward quotes for African tur are low, the association said, as purchases are limited. "Further, weakening demand is putting additional pressure on prices," it said.

 

In the near term, while prices of tur are likely to fall, the association sees Burma lemon tur prices rebounding or finding support due to uncertainties in October deliveries. The future of tur prices will also largely depend on the weather in kharif-producing areas during October and November as the crop will be in its flowering stage at that time, the pulses body said.  

 

Tur and tur dal prices fell in major markets during the week ended Saturday, as millers made only minimal purchases based on need, expecting a strong kharif harvest, the association said.

 

In the week ended Saturday, tur prices in Delhi were down INR 125 from the previous week at INR 9,950 per 100 kg, according to the association. Prices of tur in Akola, Maharashtra, were also down INR 350 on week, at INR 10,400-INR 10,450 per 100 kg, according to the association.  End

 

Reported by Pallavi Singhal

Edited by Manisha Baxla

 

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