Government has signed deal to import 250,000 ton urad & 100,000 ton tur from Myanmar

Government has signed a pact with the government of Myanmar to import 100,000 ton of tur or pigeon peas and 250,000 ton of urad or Black Mapte annually for a period of 5 years. It has also signed an agreement with the government of Malawi to import 50,000 ton of tur annually for a period of 5-years. This could probably increase the availability of the cargo in the local market and weigh on the prices. However, the question here arises whether these two countries currently have enough inventories to export amid logistics issues? According to sources, Myanmar could export 120,000-130,000 ton and African countries jointly could export 450,000-480,000 ton of tur in 2021.

This could cause selling pressure in the market once the imports start flowing in. Market participants will also monitor closely the sowing pattern and the rainfall distribution in the key growing regions of Maharashtra and Karnataka for determining the trend in the tur prices.