Mumbai, 14 June 2024 (Commoditiescontrol): Matar prices in major markets have remained steady to weak for the fourth consecutive session, with buyer inactivity contributing to the decline. Local traders report that a sharp drop in pea prices in Canada has significantly impacted domestic market prices. In Kanpur, prices were particularly low due to the lack of active buyers. Additionally, falling chana prices have added to the downward pressure on matar prices.
Russia and Canada origin matar price maintained steady at Mumbai/Hajira/Mudra Port. At Kolkata Port, Russia origin matar quoted Rs 50 lower while in Kanpur market UP/MP Line yellow pead quoted Rs 25 weak in Bilty trade. White and Green peas quoted largely firm across various markets, except for Orai market where white pea prices eased Rs 25 per quintal.
Imported pea (CIF) prices in Mumbai for Canadian origins remained stable, ranging from $495 to $500 per MT. In Kolkata, Russian origin prices held steady at $510 per MT, while Canadian prices dropped by $3 per MT to approximately $527 per MT.
Farm gate prices in Canada were reported at $326 per MT, down slightly from $327 per MT the previous session. Farmers are liquidating stocks in anticipation of bumper new crop due to increased acreage. Ne crop harvest in Canada is expcted start from September.
Given the ample supply of imported and domestic matar in the markets and the expectation of a huge supply of new crop from Russia and Canada starting in September, prices are expected to remain under pressure. However, the commencement of the wedding season and upcoming festivals may provide some support to prices.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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