Weekly Review-Peas

15-Mar-2025 07:59 PM

Buyers of peas disappear due to extension of duty free pea import deadlineKey Developments


  1. Market Decline Due to Duty-Free Import Extension

    • The extension of duty-free import for peas has led to an oversupply in the domestic market.
    • Weak demand from buyers has contributed to falling prices across key markets.

  2. Imported Pea Prices Drop

    • Continued selling pressure from importers has caused a decline of ₹200–₹300 per quintal this week.
    • Weekend price levels:
      • Mumbai (Canada): ₹3,650 per quintal
      • Mumbai (Russia): ₹3,500 per quintal
      • Currency Canada: ₹3,500 per quintal
      • Currency Russia: ₹3,400 per quintal

  3. Domestic Pea Prices Under Pressure

    • Kanpur: ₹250 per quintal decline
      • Old crop: ₹3,625 per quintal
      • New crop: ₹3,550 per quintal
    • Lalitpur: ₹75–₹100 per quintal decline
      • Price range: ₹3,400–₹3,675 per quintal
    • Rath: ₹175–₹200 per quintal decline
      • Price range: ₹3,100–₹3,350 per quintal
    • Mauranipur: ₹325 per quintal decline
      • Price range: ₹3,200–₹3,275 per quintal
    • Orai: ₹250 per quintal decline
      • Price range: ₹3,200–₹3,225 per quintal
    • Madhya Pradesh Markets:
      • Damoh: ₹250–₹300 per quintal decline (₹3,150–₹3,300 per quintal)
      • Bina: ₹3,000–₹3,300 per quintal

  4. Pea Dal Prices Also Decline

    • Kanpur: ₹4,300–₹4,350 per quintal (₹100–₹200 per quintal drop)
    • Indore: ₹4,400–₹4,450 per quintal (₹100–₹200 per quintal drop)

Market Outlook

  • Further declines expected due to high supply and weak demand.
  • Prices may stabilize only if demand improves or import restrictions are reintroduced.

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