Weekly Review-Tuvar

23-Nov-2024 07:40 PM

Prices rise due to weak selling and strong demand

Weekly Review – Tuvar Prices (November 2024)

Price Trends:

• Overall Bullish Market: Tuvar prices remained strong this week, driven by weak availability in the spot market and strong demand. The limited selling from stockists and importers due to low stock levels, combined with increased activity from dal millers, supported the price rise.
• Upcoming Crop Pressure: The tuvar crop in Karnataka is ready, and new arrivals are expected by the first week of December. This could introduce pressure on prices, potentially leading to a price decline. Traders are advised to book profits at these elevated prices.

Key Price Movements:

• Chennai Tuvar Lemon: Prices rose by Rs 400 per quintal, reaching Rs 9850-9900 per quintal, driven by weak selling and increased demand.

• Mumbai African Tuvar: Prices saw a slight decline of Rs 150-300 per quintal, with Mozambique White at Rs 6900-7000, Gajari at Rs 6600-6650, Malawi at Rs 6400-6500, Dodomo at Rs 6500-6600, and Sudan at Rs 10550-10600 per quintal.

• Burma Tuvar: Export demand increased, causing Burma Tuvar prices to rise by $10 per ton, reaching $1040 per ton by the week's end.

• Delhi Tuvar Lemon: With almost negligible stock and strong demand, Delhi Tuvar Lemon saw a significant price rise of Rs 600, reaching Rs 10750-10800 per quintal. Desi Tuvar rose by Rs 650, closing at Rs 10950-11150 per quintal.

• Maharashtra: Prices in Maharashtra rose by Rs 200-300 per quintal, with Solapur at Rs 9500-10300, Akola at Rs 10600-10900, Nagpur at Rs 10700, Latur at Rs 11625, and Ahmednagar at Rs 10000-10200 per quintal.

• Karnataka: Prices in Karnataka improved by Rs 100-200 per quintal, with Gulbarga at Rs 10700-11100 and Bidar at Rs 10200-10350 per quintal.

• Madhya Pradesh: In response to strong demand from dal millers, prices rose by Rs 500-550 per quintal. Katni reached Rs 11100-11200, Jabalpur Rs 8000-10300, Pipariya Rs 8500-9500, and Kareli Rs 8300-9600 per quintal.

• Raipur and Kanpur: Raipur saw a rise of Rs 300 per quintal, reaching Rs 10800-11100 per quintal, while Kanpur prices increased by Rs 100, reaching Rs 8800 per quintal.

Tuvar Dal:

• Price Increase: The rise in raw tuvar prices has led to a corresponding increase in Tuvar Dal prices, which rose by Rs 300-400 per quintal.
  • Delhi Phatka: Rs 15200-16100
  • Katni Phatka: Rs 14700-14900
  • Akola: Rs 15800-16500
  • Latur Phatka: Rs 16200-16500
  • Gulbarga Phatka: Rs 15200-16000
  • Kanpur Phatka: Rs 14700-15100 per quintal.

Outlook:

• Short-Term: Expect price fluctuations as new crop arrivals in December may put downward pressure on prices.
• Recommendation: With current prices on the rise, it’s advisable to secure profits now before potential price declines in the near future.