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Informist, Monday, Aug 26, 2024

 

MUMBAI – Tur prices this week are expected to be supported by an anticipated increase in buying at lower levels amid festive demand, the India Pulses and Grains Association said in its outlook report released today.

 

Tur prices today in the key wholesale market of Akola, Maharashtra, were down by 400 rupees from the previous week to 11,000-11,050 rupees per 100 kg. Tur dal prices in the same mandi were down by 300 rupees from the previous week to 15,200-15,400 rupees per 100 kg today, according to the report.

 

The current fall in prices of tur is due to weak market sentiment, rather than actual supply and demand issues, the association said. The weakening Burmese currency has lowered the prices of imported tur from Myanmar, the association said.

 

India's tur imports rose 184.4% from a year ago to 84,826.56 tn in June, led by higher imports from Myanmar and Sudan, according to data from the commerce and industry ministry. The imports from Myanmar had jumped 146.5% on year to 38,150 tn in June, the data showed. 

 

Prices of tur in the country may rise once the Burmese currency stabilises, the association said. The delay in African imports could also support prices of domestic tur because of an expected shortage in the supply of the pulse, the report said.

 

The supply of tur may fall because the new crop will arrive in the market only between November and January, traders said. With an anticipated shortage in the supply of tur, prices are likely to stabilise or could even rise further in the coming weeks, the association said. 

 

An anticipated increase in festive buying, while tur stocks in the country are low, could also boost prices of tur, the report said. Additionally, purchase tenders for tur dal from Tamil Nadu, Gujarat, and Andhra Pradesh will increase the demand for tur, boosting the price, the association said.  End

 

Reported by Shreya Shetty

Edited by Tanima Banerjee

 

 

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