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Informist, Monday, Dec. 30, 2024

By J. Navya Sruthi

MUMBAI – Excess supply of chana and tur in domestic markets led to a fall in prices of both these pulses on Monday, traders said. Prices of urad were steady due to lack of fresh cues, they said. 

Prices of TUR fell by INR 300 per 100 kg to INR 8,200 per 100 kg in Akola in Maharashtra due to a rise in arrivals in the domestic market, local trader Ankit Kedia said. Arrivals were steady from the previous day at 600–700 bags (1 bag = 50 kg), he said. 

Currently, tur arrivals from Karnataka are high and the grain contains excess moisture, Kedia said. "However, any change in price trend will be based on Maharashtra crop arrivals, which will commence by Jan. 30, and we can get clarity about the trend," he said. 

Prices of tur are expected to remain flat to firm this week due to congestion at the Chennai port, the India Pulses and Grains Association said in its weekly report released Monday. Only need-based buying is expected from millers as they await stocks of tur with lower moisture content. 

Further, sluggish demand for tur dal due to cheaper vegetables and additional supply from the new harvest in Myanmar could lower prices, the association said. "Arrival pressure is expected after Jan. 15, with prices likely to drop and bottom out between February and mid-March."

CHANA prices in Akola were down by INR 200-INR 300 to INR 5,000-INR 6,500 per 100 kg, Kedia said. Prices of chana are likely to continue with a bearish trend as imports of yellow peas and chana from Australia are seen increasing, he said. Arrivals were steady at 200 bags (1 bag = 50 kg), he said. 

Meanwhile, the association said in its weekly report that large stocks of yellow peas and chana at ports and steady imports of Australian chana are likely to limit any upside in prices. India imported 1.3 million tonnes of yellow peas in Apr-Oct, according to data from the Ministry of Commerce and Industry. Prices of chana in Indore, Madhya Pradesh were unavailable Monday as the market was closed on account of New Moon day. 

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.  End

Edited by Akul Nishant Akhoury

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