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Informist, Friday, Dec. 27, 2024

By Shreya Shetty

MUMBAI – Prices of the new kharif tur recovered in key spot markets across the country as demand rose due to fear of a slowdown in harvest amid signs of rainfall in Maharashtra, traders said. Prices of chana and urad were steady, they said.

Prices of the new TUR in Solapur in Maharashtra were up by INR 100-INR 200 from Thursday at INR 7,500-INR 8,350 per 100 kg, Mukesh Sanklecha, a local trader, said. Arrivals were at 55–60 trucks, or 55,000-60,000 kg, he said. So far, tur prices have been in a downtrend amid anticipation of better supply this year. 

"The cloudy weather in the state is fuelling fears of a slowdown in the harvest of tur, boosting demand," he said. While current arrivals of the new tur crop still have a moisture content of 16-17%, buyers fear that more rainfall will increase the moisture content further, he said. "So, purchases have increased due to worries of further spoilage of future arrivals."

However, the rise in demand will be temporary, Sanklecha said. "Arrivals of the Karnataka crop are ample, and when arrivals of the Maharashtra crop begin, prices will fall further by mid-January," he said. 

Similarly, prices of tur in Katni in Madhya Pradesh were up by INR 200 from Thursday at INR 8,200-INR 8,300 per 100 kg, according to the India Pulses and Grains Association. 

CHANA prices in Solapur were steady at INR 6,500-INR 6,600 per 100 kg, Sanklecha said. Prices had been on a downtrend, but have stabilised now and are not expected to fall further, he said. "The market is resisting lower prices as sellers do not want to incur further losses," he said.

Prices of chana are expected to remain under pressure in the short term due to rising imports of chickpea from Australia and yellow peas from Canada, the India Pulses and Grains Association said in its weekly report on Monday. Yellow peas are used as a cheaper alternative to chana. On Tuesday, the government extended the duty-free imports of yellow peas till Feb. 28, according to a release from the ministry. Earlier, the permission for duty-free imports was to expire on Dec. 31.

On the other hand, prices of chana in Indore in Madhya Pradesh were down by INR 50 from Thursday at INR 6,350-INR 6,400 per 100 kg, according to the association.

URAD prices in Lalitpur in Uttar Pradesh were steady at INR 6,500-INR 7,500 per 100 kg, according to the association. Prices of urad in Latur in Maharashtra were also steady at INR 7,000-INR 8,100 per 100 kg.

Of the 939,720 tonnes of urad sanctioned to be procured from various states, the National Agricultural Cooperative Marketing Federation of India started purchases in only one state as of Tuesday. It procured 28.10 tonnes from Rajasthan, out of the approved 149,240 tonnes to be purchased between Oct. 18 and Jan. 15, the data showed. 

Urad procurement is yet to commence in Telanagana, Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh, Andhra Pradesh, and Haryana. It will be purchased at the minimum support price of INR 7,400 per 100 kg.  End

Edited by Avishek Dutta

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