Weekly Review-Tuvar
01-Feb-2025 07:42 PM
Buying of Tuvar weak due to lack of customer support
It seems like the Tuvar market is facing multiple challenges this week, with weak demand and increased pressure from both local production and imports. Here's a breakdown of the key trends:
Overall Weak Demand: The buying activity for Tuvar is notably sluggish, especially from stockists and millers, leading to a drop in prices across several regions. The lack of customer support is also affecting the market's momentum.
Increased Production: Favorable weather conditions for the Tuvar crop have led to an increase in production, further contributing to downward pressure on prices.
Price Trends by Region:
- Mumbai: African Tuvar saw a decline of Rs. 50 per quintal, while Chennai Tuvar Lemon fluctuated slightly, but remained stable.
- Burma: Export demand remains weak, causing prices to drop by $30 per ton, ending at $780 per ton.
- Delhi: A slight rise in demand improved prices by Rs. 100 per quintal for Lemon and Rs. 50 per quintal for Desi Tuvar.
- Maharashtra: Weak demand led to a drop in prices, particularly in Solapur, Akola, Nagpur, Latur, and Dudhni.
- Karnataka: Continued selling pressure resulted in a fall of Rs. 100-200 per quintal.
- Madhya Pradesh: Prices showed fluctuations of Rs. 100 per quintal, but remained fairly steady overall.
- Other Markets: Raipur and Kanpur also saw declines in Tuvar prices, following the overall weak market trend.
Tuvar Dal: Due to the ongoing weak demand, Tuvar Dal prices fell by Rs. 200-400 per quintal, reflecting the broader trend of declining prices in the raw commodity.
In summary, the Tuvar market is under pressure from a combination of increased production, weak demand, and sluggish export activity. There’s a notable variation in price trends across regions, but the overall market sentiment is quite cautious.