Pulses body sees tur prices volatile amid higher arrivals, rising demand
This story was originally published at 16:26 IST on 9 December 2024
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MUMBAI – Prices of tur are expected to remain volatile in the short term amid an increase in arrivals of the new kharif crop and an anticipated rise in demand from millers, the India Pulses and Grains Association said in its weekly report released Monday. While prices of tur could fall due to new arrivals, analysts believe the risk of a significant decline is low due to a rise in demand from millers, the association said.
Once the moisture level in the new crop decreases and their prices stabilise, demand from millers is likely to rise as they resume crushing and processing the pulse, the association said. "Strong crushing margins will encourage mills to buy more, helping to support prices of raw tur despite rising supply," the report said.
A significant fall in prices is likely only in February or March, when the arrivals of the new crop are in full swing from Maharashtra and Myanmar, the report said. In Myanmar, harvest of the new tur crop has begun, with the local markets receiving arrivals of 50–100 bags daily, the report quoted Myanmar-based traders as saying.
Prices of tur dropped steadily in the week ended Saturday due to weak demand from millers, the association said. Demand from millers fell due to the arrival of new kharif crop with high moisture content, the report said. Prices were also weighed down due to the availability of cheaper tur from Africa and a drop in the cost and freight prices of shipments from Myanmar.
In the week ended Saturday, prices of tur in Akola in Maharashtra declined by INR 300 from the previous week to INR 9,900-9,950 per 100 kg, according to the association. Prices of the new kharif tur in Kalaburagi in Karnataka fell INR 800 from the previous week to INR 9,500-10,000 per 100 kg. End
Reported by Shreya Shetty
Edited by Saji George Titus
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