Weekly Review: Tuvar

30-Nov-2024 07:46 PM

Weekly Review: Tuvar Market Update


Tuvar Prices Decline Due to Weak Buying

The Tuvar market experienced a decline this week, mainly due to increased selling pressure and weak buying activity. Here's a breakdown of the market developments:

  • New Crop Arrivals: The arrival of new Tuvar is increasing in Karnataka’s producing markets, but there has been no significant pressure on the markets yet. The condition of this year’s Tuvar crop is better than last year, with expectations of higher production. However, the increased arrival of new crops led to more selling by stockists and importers, putting downward pressure on prices.

  • Price Movements:

    • Chennai: Tuvar Lemon prices fell by Rs. 200 per quintal this week, settling at Rs. 9650-9700 per quintal.
    • Mumbai: African Tuvar saw a decline of Rs. 100 per quintal. Prices for Mozambique White were Rs. 6800-6850, Gajari Rs. 6550-6600, Malawi Rs. 6350-6450, Dodomo Rs. 6450-6550, and Sudan Rs. 10500-10550 per quintal.

  • Burma: Exporters’ increased selling and sluggish demand caused a decline of $35 per ton, with the price dropping to $1015 per ton by the weekend.

  • Delhi: The Tuvar market in Delhi saw a decline of Rs. 600 for Lemon and Rs. 400 for Desi Tuvar per quintal. The prices at the weekend were Rs. 10150-10200 for Lemon and Rs. 10600-10800 for Desi Tuvar.

  • Maharashtra: Increased selling by stockists and weak buying led to a Rs. 200-300 per quintal price drop. Prices in key markets were:

    • Solapur: Rs. 9500-10700
    • Akola: Rs. 10300-10550
    • Nagpur: Rs. 10400
    • Latur: Rs. 10000-10050
    • Ahmednagar: Rs. 9800-10000 per quintal.

  • Karnataka: With new crop arrivals, stockists and dal millers began purchasing, leading to a price increase of Rs. 100-200 per quintal. Prices at the weekend were:

    • Gulbarga: Rs. 10300-10700
    • Raichur: Rs. 10400-10781
    • Yadgir: Rs. 9311-10732
    • Talikot: Rs. 9577-10711 per quintal.

  • Madhya Pradesh: Due to weak demand from dal millers, Tuvar prices fell by Rs. 200-300 per quintal. Prices were:

    • Katni: Rs. 10800-10900
    • Jabalpur: Rs. 8000-10000
    • Pipariya: Rs. 7500-9250
    • Kareli: Rs. 8701-9300 per quintal.

  • Other Markets:

    • Raipur: Prices dropped by Rs. 400 per quintal, settling at Rs. 10400-10700.
    • Kanpur: Prices saw a decrease of Rs. 100 per quintal, with prices at Rs. 8900 per quintal by the weekend.

Tuvar Dal Prices

Due to the fall in Tuvar prices and sluggish demand for dal, Tuvar Dal prices also saw a decline of Rs. 150-300 per quintal this week. Prices at the weekend were:

  • Delhi Fatka: Rs. 15000-15950
  • Katni Fatka: Rs. 14500-14700
  • Akola: Rs. 15700-16400
  • Latur Fatka: Rs. 16200-16400
  • Gulbarga Fatka: Rs. 15200-16000
  • Kanpur Fatka: Rs. 14700-15100 per quintal.

Conclusion

The Tuvar market this week saw a noticeable decline in prices across most major markets, attributed to increased selling and weak demand. The improved crop prospects and gradual increase in new crop arrivals added to the selling pressure. Prices for both raw Tuvar and Tuvar Dal are expected to remain under pressure unless there is a significant improvement in demand.

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