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Informist, Tuesday, Nov. 26, 2024

By Shreya Shetty

MUMBAI – Prices of tur continued to slide as the new kharif crop in Karnataka began arriving in markets, traders said. Prices of chana and urad were steady across key spot markets in the country, they said. 

TUR prices in Akola in Maharashtra were down by INR 25 from Monday to INR 10,500-10,525 per 100 kg, Ankit Kedia, a local trader, said. Arrivals were up by 200 bags to 700 bags (1 bag = 50 kg), which included arrivals of the new kharif tur from Karnataka, he said. Prices have fallen by INR 200-100 per 100 kg since last week due to the new arrivals, he said.

However, the drop in prices is not substantial, because the new arrivals have higher moisture content, Kedia said. Firm demand from millers also supported tur prices, he said. "Despite more supply and higher moisture, there is firm demand from millers as they have low stocks for processing," Kedia said.

Prices are expected to fall substantially more when the new kharif tur from Maharashtra starts arriving in the markets in January, Kedia said. "Prices of tur could touch INR 8,000 per 100 kg by Feb-Mar," he said.

Prices of the new tur crop in Kalaburagi in Karnataka were INR 10,950 per 100 kg, with arrivals at 400 bags (1 bag = 50 kg), according to the India Pulses and Grains Association. The prices of old tur in the district were steady at INR 10,000-10,862 per 100 kg, with arrivals up by 109 bags to 396 bags.

CHANA prices in Akola were steady at INR 6,900-6,925 per 100 kg despite a drop in supply because demand also slipped, Kedia said. Arrivals were steady at 300 bags (1 bag = 50 kg). 

Earlier, traders saw prices of chana continuing on a downtrend in the domestic markets as they expected imports from Australia to arrive in time. Kedia said, "Prices could have fallen further, but the delay in Australian imports is keeping them steady." Australia, one of the largest exporters of chana to India, is experiencing a delay in the harvest and shipment of chana due to heavy rainfall, he said. Chana from Australia is cheaper, but due to the delay in shipments, buyers are forced to purchase domestic chana, he said.

Low chana acreage in the current rabi season so far has also prevented prices from falling further, Kedia said. Key chana-growing states such as Madhya Pradesh and Gujarat are seeing farmers turn to crops that give better returns, such as wheat, he said. In other states such as Maharashtra and Karnataka, sowing has been delayed due to the late harvesting of kharif crops, he said. 

Meanwhile, prices of chana in Indore in Madhya Pradesh were up by INR 25 from Monday to INR 6,850-6,875 per 100 kg, according to the association.

URAD prices in Indore were steady at INR 7,500-8,500 per 100 kg, according to the association. Similarly, prices of urad in Chandausi in Uttar Pradesh were steady at INR 7,600-7,650 per 100 kg, according to the association. 

Urad prices may stay low this week due to rising imports from Myanmar, the association said in its weekly report released Monday. The forward contracts for December shipments of urad from Myanmar are being sold at a discount, the association said. Traders have already made heavy bookings of shipments of the legume arriving in December while attempting to fulfil forward contracts made in November.  End

Edited by Rajeev Pai

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