Tur weakens on lower demand, stock pressure

Prices of key pulses are expected to remain largely range-bound in the near term, with tur likely to trade weak due to subdued demand and adequate government stock availability, according to the weekly report by the India Pulses and Grains Association released on Monday.

The association said chana prices are expected to remain stable as cautious buying continues and the government’s stock sales keep prices in check despite lower arrivals. Chana prices in Indore remained steady at ₹6,025–₹6,050 per 100 kg during the week ended Saturday. However, continued stock liquidation by the Centre may reduce its intervention capacity if demand strengthens later.  Tur prices are expected to stay steady to weak as both demand and supply remain soft. Weak consumption of tur dal and government stock availability are limiting upside, even as lower arrivals and reduced imports from Myanmar offer some support. Prices in Akola, Maharashtra fell by ₹25 to ₹8,000–₹8,025 per 100 kg.  The market is also closely tracking monsoon progress, as delayed rainfall has slowed kharif sowing of tur.  

Meanwhile, urad prices are likely to remain range-bound due to need-based buying by millers and traders.  Although urad sowing was down 37% on year as of June 19, improved acreage is expected in key producing states. However, concerns over El Niño and weak rainfall remain key risks for output.