Tur downward trend continues

Most pulses are observing a downward trend over the last few days. This is largely on account of seasonal dull period coupled with rise in arrivals. Tur or pigeon peas has also not been left behind. Prices which were quoting around 6800-6900 rupees per 100 kg in key centres of Maharashtra have corrected sharply and are now being offered at 6200-6300 rupees. Another reason which has contributed to the weakness in tur is the talk that government is likely to sign a Government to Government pact with Myanmar for purchase of around 100,000 ton.

 Meanwhile, steps by some State governments to monitor inventories of millers, traders and importers has resulted into liquidation. However, there is uncertainty that whether other global players such as African countries and Myanmar have the required availability of pigeon peas to export until new crop arrivals in India. If the answer is yes, it could cause some more selling pressure and vice-versa. This would be clear in the next few weeks.