Tur Market Turns Bullish Again Prices May Reach ₹8,600 per Quintal
Tur (pigeon pea), due to speculative selling and profit-booking at higher prices, the market had declined by ₹700 per quintal over a fortnight. Thereafter, with pulse mills purchasing at lower prices today, the market has strengthened by ₹250. Considering the shortage of stock ahead, prices may again reach ₹8,600 per quintal. In Rangoon, prices declined by $30–35 per ton over a fortnight to $880–885 per ton. However, since larger quantities are not available at these levels, importers have again started quoting higher prices in Chennai and Delhi. With imports becoming expensive and the arriving crop turning out lower than estimates, the market trend appears bullish going forward. Therefore, there is no need to panic. In Maharashtra and Karnataka, the Kharif season crop of tur is arriving, but the sowing area for the Rabi season is declining heavily day by day. This year, total production of both Kharif and Rabi crops is estimated at 3.7–3.8 million metric tons, compared to 5.4–5.5 million metric tons last year. It is noteworthy that since the time of sowing, continuous rains in Akola, Jalgaon, Jalna, Budhlada (Maharashtra), and in the Kali Kothi–Gulbarga belt of Karnataka caused widespread damage to the sown crop. Subsequently, rains in the last week of October severely damaged crops in Madhya Pradesh and Uttar Pradesh. A similar situation prevailed in the Neemuch–Katni belt. Bihar and Jharkhand also suffered extensive crop losses. On the other hand, to boost tur production this year, the government increased the Minimum Support Price (MSP) by ₹450 to ₹8,000 per quintal, and substantial procurement at MSP has already taken place in Karnataka. Here, Lemon tur is also quoting stronger at ₹7,700 today due to reduced arrivals and bullish news from Chennai. Most traders here have preferred February–March delivery deals with Chennai rather than spot transactions, resulting in lower stock availability in the local pipeline.