Weekly Review-Lentil
22-Jun-2024 08:43 PM
Lentil buying weak due to sluggish demand
Mumbai. Lentil prices remained bullish and bearish during the current week as demand remained normal. Lentil production area in Canada is estimated to increase by 4 percent compared to last year and reach 15.50 lakh hectares in the current year. During the current marketing season of 2023-24, a tremendous increase was seen in the price of green lentils in the Canadian markets, which increased the enthusiasm and attraction of farmers in its field. The Ministry of Agriculture of Canada has estimated the domestic production of lentils to jump by 27 percent to 21.30 lakh tonnes in the 2024-25 season, while the previous outstanding stock has expressed the possibility of its total availability improving to 23 lakh tonnes. There will be a tremendous increase in production, but due to low outstanding stock, it will not be possible to increase the total availability much. Despite this, the total export of lentils from Canada is expected to increase to 18 lakh tons, which is more than the estimated export of 16 lakh tons for the 2023-24 season. Due to continued selling by importers and weak buying, Mumbai lentils registered a decline of Rs 50/100 per quintal this week and with this decline, the price remained at Rs 6150 for Mundra, Rs 6150 for Hazira and Rs 6250/6300 per quintal at the weekend. Similarly, the prices of Kolkata lentils also registered a decline of Rs 75 per quintal this week and the price remained at Rs 6275/6300 per quintal at the weekend. Delhi
Due to the slow buying by the dal millers, the price of Delhi lentils witnessed a rise and fall of 25/50 rupees per quintal this week and with this rise and fall, the price at the weekend remained at Choti Kota 6550 rupees, Bundi 7025 rupees, Uttar Pradesh 7075 rupees and Desi Badi 6700 rupees per quintal.
Madhya Pradesh
Due to increased selling and weak demand, the price of Madhya Pradesh lentils witnessed a fall of 50 rupees per quintal during the current week and with this fall, the price at the weekend remained at Ashoknagar 6000/6100 rupees, Ganjbasoda 5800/6200 rupees, Sagar 5600/6050 rupees, Damoh 5700/6200 rupees, Indore 6200 rupees and Katni 6550/6575 rupees per quintal.
Uttar Pradesh
Due to sluggish buying and selling, there was no rise or fall in the prices of Uttar Pradesh lentils during the current week and the prices remained stable at Bareilly small 7200/7250 rupees, thick 6750 rupees, Kanpur 6550 rupees and Lalitpur thick 5950/6050 rupees, small 6400/6500 rupees per quintal at the weekend.
Others
Due to sluggish buying, a fall of 50 rupees per quintal was observed in the prices of Bihar lentils during the current week and with this fall, the prices remained at Barh 6500 rupees, Khusrupur 6400 rupees and Mokama 6500 rupees per quintal at the weekend. Due to weak buying by dal millers, Raipur lentil fell by 50 rupees per quintal this week and remained at 6300 rupees per quintal at the weekend.
Masoor Dal
Due to the fall in price of Masoor and sluggish demand, prices of Masoor Dal fell by Rs. 50 per quintal this week and with this fall, the prices remained at Rs. 7650 for Jalgaon, Rs. 7500/7700 for Indore, Rs. 7500/7800 for Barh and Rs. 7400/7700 for Khusrupur per quintal at the weekend.