Weekly Review-Peas

14-Dec-2024 08:26 PM

Pea prices improve due to improved demand

In the current week, the prices of Desi peas saw an upward movement, driven by a reduction in selling pressure at lower prices and a rise in demand. The demand from dal millers has increased, spurred by the rising prices of gram, providing support to the higher pea prices.

The import deadline for peas is set to expire on December 31, but there is ongoing discussion in the market about extending it by two more months. This extension could be considered due to concerns over weak gram availability and a potential decrease in tur production. However, the Agriculture Department opposes opening up pea imports, citing concerns for the welfare of farmers.

Between April and November, a total of 14.77 lakh tonnes of peas were imported, and it is estimated that 26.46 lakh tonnes will be imported from December 2023 to November 2024. At present, a large stock of peas is available at ports. Despite this, the prices of imported peas remained stable due to sluggish buying activity. At the weekend, prices were as follows:

  • Canada (Mumbai): Rs. 3550-3600
  • Russia (Mumbai): Rs. 3400
  • Mudra Canada: Rs. 3375-3400
  • Mudra Russia: Rs. 3325-3350 per quintal

Regional Price Movements

  • Kanpur Peas: With increased demand from dal millers, the price rose by Rs. 50 per quintal, reaching Rs. 3750-3775 per quintal at the weekend.
  • Lalitpur Peas: Similarly, prices in Lalitpur increased by Rs. 50 per quintal, settling at Rs. 3100-3350 per quintal.
  • Mahoba Peas: No price movement was observed due to sluggish demand, with prices remaining stable at Rs. 3300-3400 per quintal.
  • Mauranipur Peas: Prices remained unchanged at Rs. 3200-3300 per quintal.
  • Madhya Pradesh Peas: Prices in Madhya Pradesh saw a rise of Rs. 25-50 per quintal. In Damoh, prices increased to Rs. 3250-3300 per quintal, while in Bina, they reached Rs. 3000-3400 per quintal.

Pea Dal Prices

The prices of pea dal also saw an increase this week, in line with the rise in pea prices and improved demand. Prices rose by Rs. 50 per quintal, bringing the price to:

  • Kanpur: Rs. 4100-4150 per quintal
  • Indore: Rs. 4200-4250 per quintal at the end of the week.

This upward trend in pea and pea dal prices reflects a combination of market demand, the outlook for imports, and regional price movements.

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