Weekly Review-Peas
24-Sep-2024 06:56 PM
Buyers of peas disappear due to increased selling pressure
Kanpur. Selling pressure increased in peas last week due to extension of import deadline. Due to increased selling and weak demand, prices of peas declined during the current week. Stock of imported peas in India is around 10 lakh tonnes, deals of 6-8 lakh tonnes have been done from August to October. That means supply will remain in future. Availability of peas is good in Canada as well as Russia. Pea production in Russia is expected to reach 42.5 lakh tonnes in 2024, 10% less than 2023. Old stock is very weak. Exports are expected to reach 24.5 lakh tonnes in 2024-25, 27% less than last year. Stats Canada has given the figures of 31.6 lakh tonnes of pea production in Canada, 21% more than 2023, Canada can export 24.5 lakh tonnes of peas in 2024-25. Due to increased selling pressure from importers and weak buying, the prices of imported peas declined by Rs 150/200 per quintal last week and with this decline, the prices remained at Mumbai Canada Rs 3800/3850, Russia Rs 3600/3650 and Mudra Canada Rs 3650/3700 and Russia Rs 3550/3600 per quintal at the end of the week. Due to the fall in imported peas, the demand for desi peas remained sluggish. Due to availability remaining and weak buying by dal millers, the prices of Kanpur peas declined by Rs 125 per quintal this week and with this decline, the prices remained at Rs 4050 per quintal at the end of the week. Similarly, prices of Lalitpur peas also declined by Rs 75/150 per quintal during last week and the price remained at Rs 3550/3725 per quintal at the weekend. Due to sluggish buying, Mahoba peas declined by Rs 50 per quintal last week and remained at Rs 3650/3800 per quintal at the weekend. Similarly, a decline of Rs 50/100 per quintal was also observed in Mauranipur peas and the price remained at Rs 3700/3750 per quintal at the weekend. Due to the impact of decline from all sides and sluggish demand, Damoh peas declined by Rs 50 per quintal and remained at Rs 3800/3900 per quintal at the weekend.
Peas dal
Due to the fall in the price of peas and weak demand, the prices of peas witnessed a fall of Rs. 50 per quintal during the last week and the prices remained at Rs. 4500/4550 in Kanpur and Rs. 4500/4600 per quintal in Indore at the end of the week.