Prices of tur in Kalaburagi, Karnataka, because of subdued trade due to confusion over the new amendment in the goods and services tax. Traders were uncertain about how branded and non-branded items distinguished for the purpose of determining the GST rate applicable.
Prices of tur in Kalaburagi, Karnataka, fell as confusion over the new amendment in the goods and services tax led to lower buying of the commodity. Traders were uncertain about how branded and non-branded items distinguished for the purpose of determining the GST rate applicable.
Production of tur in Karnataka is estimated to have declined 45% on year to 663,000 tonne in kharif season due to sharp fall in acreage and yield. In 2016-17, tur prices had slipped below minimum support price because of a record high output, which prompted farmers to shift to cotton sowing from tur in the current kharif season.
MMTC Ltd has floated a tender to sell 4,211 tonne imported tur from the 2016 Malawi, Mozambique crop and 2,963 tonne urad from the 2016 Yangon, Myanmar crop. The tur and urad are lying at the Central Warehousing Corp in Virungambakkam and Madhavaram in Chennai and National Collateral Management Services Ltd’s M.K, Balaji and PKC warehouses. Bids must be submitted on Sep 19, and opened the same day. The bids remain valid for acceptance till Sep 25. In another tender, MMTC invited bids for sale of 4,055.64 tonne imported tur from Africa and 2,491.56 tonne red lentils imported from Canada.
Following the imposition of annual import ceiling on pigeon peas (tur dal) fixed at two lakh tonne last month in response to the glut in the domestic market, the Centre has allowed an additional 40,000-44,000 tonne of the pulse to be imported. This has been done to accommodate the orders already paid for by traders prior to the restriction. It was brought to the notice of the Directorate General of Foreign Trade that some traders had already given advance to foreign suppliers before the import ceiling was imposed. Since they can’t get their money back they are being allowed to import the contracted amount. When the government imposed the import restriction of an annual 2 lakh tonne on tur dal, the import limit had almost been reached. So the additional amount that is coming to the market is just restricted to the 44,000 tonne of pigeon peas that was contracted before the restriction was imposed.
Prices of gram and tur rose by up to Rs 200 per quintal at the wholesale market on pick-up in demand from retailers. Uptick in demand from retailers against restricted supplies from producing belts amid some enquiries from dal mills mainly helped gram and tur prices to trade higher.
Prices of tur fell in Akola, Maharashtra due to lower demand as trade was subdued after festivals. In the benchmark market of Akola, the commodity was sold down 50 rupees from previous close, while arrivals remained steady at 300-400 bags (1 bag = 100 kg).
Prices of Lemon tur in Mumbai fell because of lower demand from dal millers. The benchmark market of Akola in Maharashtra, as well as other key markets such as Kalaburagi in Karnataka were shut on account of Anant Chaturdashi.
Prices of tur in most key markets rose due to demand from dal millers. Concern about lower acreage was also seen supporting tur prices.
Importers of tur, who had signed import contracts prior to a quantitative cap on overseas purchases on Aug 5, can avail relaxation on the import cap if they register those contracts with the government. Such contracts registered by the regional authorities after verifying that companies had entered into contracts prior to Aug 5. The government on Thursday had relaxed the norms by allowing consignments from Myanmar and other exporting countries for which advance payments were made prior to the restriction.
Prices of tur in Kalaburagi in Karnataka were down as the government relaxed norms for import of the commodity from Myanmar. Importers of tur, who had signed import contracts prior to a quantitative cap on overseas purchases on Aug 5, can avail relaxation on the import cap if they register those contracts with the government.
India, which had capped import of tur at 200,000 tonne earlier this month, has now relaxed the curbs for tur consignments coming from Myanmar for which advance payments had been made prior to the restriction. Tur import consignments from Myanmar for which advance payments were made before Aug 5, and invoices and payment documents have been authenticated by the Myanmar government and banks, allowed to come in despite the import cap. The relaxation comes as a relief to Burmese pulses exporters, which have sold large quantities of tur to India. On Aug 5, India had capped import of tur at 200,000 tonne per annum to check the fall in local prices following a bumper harvest of pulses in 2016-17. The import cap, in effect, was a ban on further imports of tur, as India had imported close to 250,000 tonne of tur during Apr-Jul. The import restrictions on tur are not applicable to imports under bilateral trade agreements.
Prices of tur in Akola were down, tracking weakness in chana prices, and due to a revival in monsoon rains in key growing areas. Lower demand for tur from dal millers is also seen weighing on sentiment.
Market delivery prices of food grains and pulses at Rajkot in India western state of Gujarat opened on a mixed trend. Bajri prices eased due to low retail demand. Tur Dal prices improved due to short supply. Arrivals-transactions at market yard are low. It resumed after 10 days as commission agents called off their strike.
Prices of tur in Gulbarga, Karnataka, were down because of weak demand from dal millers. Arrivals were steady at 5,000-6,000 bags (1 bag = 100 kg). In the benchmark market of Akola, prices were steady, as low demand offset a decline in arrivals.
MMTC offer 10,992.06 tonne of masoor imported from Canada and 1,846.97 tonne of tur imported from Kenya and Mozambique for auction through NCDEX e-Markets. The pulses are stocked at warehouses in West Bengal, Gujarat and Maharashtra.
Prices of tur were down in Latur, Maharashtra, owing to subdued demand from dal millers and domestic stockists. An increase in the arrivals of the pulse also weighed on price. Arrivals were estimated at 7,000 bags (1bag=100kg), as compared to 5,000 bags on previous close.
Prices of tur fell in the benchmark market of Akola, Maharashtra, due to subdued demand at higher rates. Prices of the commodity had increased due to improved sentiment, following the government decision to cap imports of urad, moong and tur. Arrivals were steady at 600-700 bags (1 bag = 100 kg). Kalaburagi, a key market for tur, was closed due to strike by traders protesting the mandatory e-payment system launched by the Karnataka government Rashtriya e-Markets Services.
Prices of tur in the benchmark market of Akola, Maharashtra, rose due to improved sentiment. Arrivals were at 700-800 bags (1 bag = 100 kg), down from 1,000 bags on previous close. The price up of lemon tur in Mumbai.
Prices of tur were unavailable as key markets, including Akola in Maharashtra and Gulbarga in Karnataka, were shut for Amavasya.