Burma Tuvar Lemon prices fell sharply
23-Nov-2024 10:22 AM
Burma Tuvar Lemon prices fell sharply
The recent developments in the Tuvar market suggest a mix of price fluctuations and trends across different regions, but overall, the market seems to be experiencing a bullish outlook for the near future. Here are some key takeaways based on your report:
1. Lemon Market (Burma Tuvar) Trends:
Price Drop in Burma Tuvar: From November 4th to 22nd, the price of Burma Tuvar fell by $80, dropping from $1120 to $1040. However, a slight recovery occurred on November 22nd, with an increase of $40.
Impact on Domestic Markets: In India, Tuvar lemon prices in Mumbai and Chennai saw a rise of 200-250 rupees this week, indicating a localized price surge.
Specific Price Movements in Mumbai and Chennai:
Mumbai: Price increased from 9550/9600 rupees to 9800/9850 rupees.
Chennai: Price rose from 9600/9650 rupees to 9850/9900 rupees.
These localized increases reflect stronger demand or reduced availability in the domestic market.
2. International Market Movements:
Africa: Markets like Mozambique, Gajari, Matwara, Malawi, and Dodoma saw a fall in prices, indicating weak supply or lower demand in these regions.
Sudan Tuvar: Sudan Tuvar prices rose by 300 rupees, reaching 10,600 rupees on Friday, showing some strength in that market.
Myanmar: Myanmar exported large quantities of Tuvar, which, combined with weak stocks in Africa, could influence the global market.
3. Indian Market Dynamics:
Latur Maruti: Increased by 250 rupees, reaching 11,625 rupees.
Pink Tuvar: Rose from 9000-10,000 rupees to 11,000-11,200 rupees.
Akola: Saw an increase of 200 rupees, closing at 10,600/10,900 rupees.
Ahmednagar: Prices increased by 300 rupees.
The general trend across major markets in India indicates a positive movement in Tuvar prices, particularly in key regions like Latur and Akola.
4. Future Outlook:
New Crop Arrivals: The arrival of new Tuvar from Karnataka and Maharashtra starting from mid-January may affect supply and price trends. This could introduce more volatility in prices depending on the volume of arrivals and the condition of the crop.
Weak Stock Levels: As As I Grain India mentioned in previous reports, the weak stock levels with millers suggest that there could be more immediate sales of goods in the market, which may drive prices up in the short term.
Market Sentiment: With weak stock levels globally, especially in Myanmar and Africa, and stronger domestic demand, prices are likely to remain bullish. The general sentiment suggests that the market will continue to strengthen in the coming weeks.
Conclusion:
The Tuvar market is currently experiencing mixed trends with some regions seeing price increases (Mumbai, Chennai, Latur, Akola) while others, particularly in Africa, have seen price declines. However, with the upcoming harvest, weak stock levels, and strong market demand, there is an expectation that Tuvar prices may rise further in the near future. Traders and millers will need to watch for the arrival of new crops and any changes in supply-demand dynamics closely.