Weekly Review-Lentil

29-Jul-2024 06:17 PM

Lentil buying slow due to lack of buyers

Mumbai. Last week, lentil prices declined due to slow buying and increased selling at higher prices. Due to lack of buyers in lentil dal, the demand of millers in lentil remains sluggish, due to which pressure is being seen on prices. Australia's government agency- ABARES has estimated the domestic production of 16 lakh tonnes of lentils during the 2024-25 season in its new report. The lentil sowing area is expected to increase rapidly to a new record level of 8.85 lakh hectares, but its production is likely to be almost equal to last year because there will be an increase in the sowing area but there is a possibility of a decline in the average yield rate of the crop. Last season, lentil exports from Australia reached 10 lakh tonnes, about 3 lakh tonnes of old lentil stock is available in stock, most exports were done to India, Pakistan, Bangladesh. In the last one month, container freight from Australia to India has increased by 80-100% due to which container business decreased and that of bulk increased. There is also good production of lentil in Canada, competition regarding prices might increase between both the countries. Due to increased selling by importers and sluggish buying, Mumbai lentil registered a decrease of Rs. 50 per quintal last week and with this decrease, the price remained at Mundra Rs. 6000, Hazira Rs. 6025 and container Rs. 6175/6225 per quintal at the weekend. Similarly, the prices of Kolkata lentil also declined by Rs. 75 per quintal last week and the price remained at Rs. 6175/6225 per quintal at the weekend.

Delhi

Due to sluggish demand from dal millers, Delhi lentil prices fell by Rs. 50/100 per quintal last week and with this fall, the weekend prices of small quota became Rs. 6550, Bundi Rs. 6900, Uttar Pradesh Rs. 6950 and Desi Badi Rs. 6700 per quintal.

Madhya Pradesh

Due to increased selling and weak buying, Madhya Pradesh lentil prices fell by Rs. 50/100 per quintal last week and the weekend prices remained at Ashoknagar Rs. 6000/6100, Ganjbasoda Rs. 5700/6300, Sagar Rs. 5800/6100, Damoh Rs. 5700/6300, Indore Rs. 6150/6200 and Katni Rs. 6650/75 per quintal.

Uttar Pradesh

Due to sluggish buying and selling, during the last week, there was a rise and fall of 25/50 rupees per quintal in Uttar Pradesh lentil prices and at the weekend, the prices remained Bareilly small 7100/7150 rupees, thick 6650/6675 rupees, Kanpur 6525 rupees and Lalitpur thick 6000/6075 rupees, small 6300/6325 rupees per quintal.

Others

Due to sluggish demand, there was no rise and fall in Bihar lentil prices during the last week and the prices remained stable at Barh 6650 rupees, Khusrupur 6550 rupees and Mokama 6650 rupees per quintal at the weekend. Similarly, Raipur lentil also did not see any rise and fall last week and the price remained stable at 6350 rupees per quintal at the weekend.

Masoor Dal

Due to sluggish demand, no movement was seen in the prices of Masoor Dal last week and the prices remained stable at Jalgaon Rs. 7650, Indore Rs. 7500/7650, Barh Rs. 7600/7900 and Khusrupur Rs. 7500/7800 per quintal during the weekend.