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Informist, Monday, Nov. 11, 2024

 

MUMBAI – Depleting domestic stocks and lower imports are likely to halt the fall in tur prices, and prices are seen rising in the near term, the India Pulses and Grains Association said in a weekly report Monday. Prices of tur could also be supported due to demand in the wedding season, and tenders issued by several state governments for purchase of the commodity. 

 

However, demand is likely to remain need-based until the arrival of the new kharif tur in markets, the report said. Demand is expected to rise once the new crop hits markets. The expected rise in demand is despite higher production this kharif season, as stocks with traders and millers have been depleted, the report said.

 

The first advance estimates of kharif tur production for 2024-25 (Jul-Jun) show a rise in output in Karnataka, Maharashtra, Telangana, and Jharkhand. Harvest of tur has begun in the top producer, Karnataka, after delay due to the late flowering of the crop and excessive rainfall in October.

 

The new kharif tur crop is entering the flowering stage in some areas of the country and the pod formation stage in others. Market participants are closely monitoring weather conditions such as dew, frost, and rain, which could affect the crop and the yield during the harvest, the report said.

 

Prices of tur were mostly lower in the week ended Saturday due to limited demand from millers and the availability of cheaper imports from Africa. However, the weakness in prices was limited due to selective buying from millers in processing hubs such as Akola in Maharashtra and Katni in Madhya Pradesh amid low stocks of domestic and imported tur, the report said.

 

In the week ended Saturday, prices of tur in Akola were up by INR 50 from the previous week to INR 10,750-10,800 per 100 kg, according to the association. On the other hand, prices of tur in Kalaburagi in Karnataka, were down INR 159 from the previous week at INR 10,361-11,200 per 100 kg.  End

 

Reported by Shreya Shetty

Edited by Avishek Dutta

 

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