Mumbai, 18 June 2024 (Commoditiescontrol): Matar prices have shown a mixed trend in major markets, with Kanpur experiencing an uptick while prices in Lalitpur have declined due to slow demand. Local sources attribute the price fluctuations to weak demand for processed goods, which has exerted downward pressure on the overall market.
In the international arena, imported pea prices (CIF) in Mumbai for Canadian peas have remained stable, ranging between $495 and $500 per metric ton (MT). Similarly, in Kolkata, prices for Russian and Canadian origin peas have held steady at $510 per MT and $527 per MT, respectively.
Canada's farm gate prices for peas were reported at $326 per MT, unchanged from the previous session. Canadian farmers are currently liquidating stocks in anticipation of increased acreage, with sowing now completed. The delivery range for September through November stands at $298-$328 per MT, maintaining stability over the past week.
At Kanpur market UP/MP Line yellow pead quoted Rs 25 strong in Bilty trade. White and Green peas quoted largely firm across various markets, except for Lalitpur market where white pea prices eased by Rs 100 per quintal.
Domestically, pea prices are expected to remain supported in the coming days. The wider price spread between Chana and Matar is likely to boost demand from besan producers, who may turn to Matar as a cost-effective alternative. However, the decline in Canadian prices due to the expectation of a robust crop in the upcoming season, with harvests expected to start from late August, could curb any significant domestic price gains. Additionally, the new Russian Matar crop is set to begin in September, compelling stockists to liquidate their existing crop before the supply of new crop imports from Russia and Canada starts. This could keep any major price rise in Matar under check.
Spot Matar Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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