Weekly Review: Peas

18-Nov-2024 07:33 PM

Market Update

Pea Prices Improve Due to Increased Demand

The prices of peas saw an uptick last week, driven by a reduction in low-price selling and a boost in demand. As stockists and importers reduced their selling activities, millers' demand for peas increased, which helped push prices higher across several markets.

• Imported Peas: Prices for imported peas rose by Rs 25 per quintal, with specific price levels at the end of the week as follows:

  • Canada (Mumbai): Rs 3650 per quintal
  • Russia (Mumbai): Rs 3450 per quintal
  • Canada (Currency): Rs 3375-3400 per quintal
  • Russia (Currency): Rs 3325-3350 per quintal

• Domestic Market: In Kanpur, the price of peas rose by Rs 100 per quintal, reaching Rs 3750/3775 per quintal. Other regions also saw similar increases:

  • Lalitpur: Increased by Rs 50 per quintal, reaching Rs 3200/3450 per quintal.
  • Mahoba: Increased by Rs 50 per quintal, reaching Rs 3300/3450 per quintal.
  • Mauranipur: Increased by Rs 50 per quintal, reaching Rs 3150/3250 per quintal.
  • Damoh: Prices increased by Rs 100 per quintal, reaching Rs 3300/3400 per quintal.

This broad-based increase reflects the growing demand across various markets, which is likely to continue supporting the price rise in the short term.

Peas Dal Market Peas dal prices also saw a rise of Rs 50 per quintal during the week, with the following price updates:

• Kanpur: Rs 4100/4150 per quintal
• Indore: Rs 4250 per quintal

This upward trend in both peas and peas dal markets indicates robust demand, supporting higher prices across the board. The overall market sentiment is optimistic as demand from millers continues to strengthen.