Weekly Review-Peas

13-Jul-2024 07:30 PM

Desi pea prices improve due to increased buying

Kanpur. Pea prices improved this week due to weakening of selling at reduced prices and improvement in demand. This year, due to improvement in sowing area and somewhat better yield rate, the total production of peas reached close to 9.50 lakh tonnes, in which the share of yellow peas was close to 8 lakh tonnes. The pea crop has already been harvested in February-March. Uttar Pradesh and Madhya Pradesh are its two major producing states. Apart from this, peas are also imported in some other provinces. According to rough estimates, about 15-16 lakh tonnes of peas were imported in the country during December 2023 to May 2024. 50 percent of it has been consumed so far. At present, duty-free import of yellow peas has been allowed in the country till 31 October 2024. At present, about 8.50 lakh tonnes of imported yellow peas are present in India, while the outstanding stock of indigenous production is different from this. Due to increased selling by importers and sluggish demand, imported pea prices fell by Rs 50 per quintal this week and the price remained Mumbai Canada Rs 4000, Russia Rs 3750/3800 and currency Canada Rs 3900 and Russia Rs 3700/3750 per quintal at the weekend. But selling of Desi peas remained weak this week. Due to weak selling and increased buying, Kanpur pea prices improved by Rs 50 per quintal this week and with this improvement, the price became Rs 4125/4150 per quintal at the weekend. Similarly, Lalitpur pea prices also increased by Rs 100/150 per quintal during the current week and the price became Rs 3700/3900 per quintal at the weekend. Due to continued buying, Mahoba pea prices increased by Rs 50 per quintal and the price became Rs 3700/3950 per quintal at the weekend. Similarly, Mauranipur peas also increased by Rs. 50 per quintal and reached Rs. 3700/3850 per quintal at the weekend. Due to sluggish buying, no rise or fall was seen in the prices of Madhya Pradesh peas this week and the prices remained stable at Rs. 3700/3850 in Bina and Rs. 3700/3800 per quintal at Damoh at the weekend.

Pea dal

Due to sporadic buying, an improvement of Rs. 50 per quintal was seen in peas dal this week and the prices reached Rs. 4500/4550 in Kanpur and Rs. 4800/4950 per quintal at the weekend.