- Pea prices stay firm on lower Canadian output.
- Tur corrects after a sharp rise; lower output supports prices.
Indian pulses recorded a mixed trend on October 7, with pea and tur prices remaining firm, while rajma, mung and urad faced varying supply and demand conditions.
Pea prices remain firm
Pea prices remained supported despite lower production, as significant stocks in Canada have limited the pace of the expected price rise. Prices at Indian mandis increased by around INR 2/kg during the week before easing by about INR 1/kg, with trades reported at INR 46.5-47/kg. Prices are currently being quoted around INR 49-50/kg, with further gains possible as the weaker rupee and lower Canadian production increase import costs.
Rajma supply remains tight
Rajma Chitra prices increased from INR 120 to INR 122/kg as demand from restaurants strengthened, although buying slowed over the past two days due to weaker consumer demand. Prices of Chinese-origin material have also moved higher. Imports are becoming more expensive, while current vessel arrivals are not bringing sufficient volumes into the market. This could result in tighter availability and provide scope for further price increases. However, traders are advised to remain cautious and book profits at current levels.
Tur corrects after sharp rise
Tur prices declined after a strong rally in previous days as profit booking emerged. Prices fell from around INR 9,700/qtl to INR 9,600/qtl. The market has remained subdued following the correction, but supply concerns continue to provide underlying support. This year’s combined kharif and rabi tur production is estimated at only 4.0-4.2 million tonnes (mnt), compared with 5.1-5.2 mnt previously, due to adverse weather conditions. With mandi supplies remaining limited and international prices elevated, tur could regain strength after the recent correction.
Mung sees higher arrivals
New mung arrivals are gradually increasing, but buying interest remains firm at lower price levels. Mung prices in Uttar Pradesh increased by INR 100-200/qtl to INR 7,500-8,800/qtl. Older light and heavy-quality mung was trading around INR 7,000-7,600/qtl. However, slower sales of dal and dhoya at higher prices could keep the market under pressure in the near term.
Urad remains firm but volatile
Urad prices declined by around INR 50 despite tight availability, with FAQ urad quoted around INR 10,300/qtl and better-quality material around INR 10,325/qtl. FAQ prices were around INR 9,750/qtl. Limited availability and higher-priced new deals are restricting fresh supplies. With no major new crop expected shortly and the dollar strengthening against the rupee, urad prices could find further support.
Outlook
The pulses market is likely to remain mixed, with tight supplies supporting pea, rajma, tur and urad, while rising mung arrivals and slower downstream demand could limit gains. Tur and urad have stronger supply-side support, while import costs and currency movement will remain important factors for imported pulses.
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