Lentils - Expect further decline

Farmers are currently busy sowing lentils, due to which the arrival is weak. Pressure on the markets was also seen due to lentil imports from Canada. This year in Madhya Pradesh, sowing has been done in 4.71 hectares whereas last year it was in 3.54 hectares and in Uttar Pradesh this year the sowing figures have come out in about 3.64 hectares which was in 3.62 hectares last year. Sowing is good in the producing states this year. A total of 1,45,127 metric tonnes of red lentils were imported from Canada this month. Vessel MV Geranium 43,349 MT Vessel Fortune – 21825 MT Vessel Tiger Vessel – 21825 MT Dejima Vessel – 58128 MT Prices are likely to remain in the range of Rs 5500-5700 per quintal for the next few days. Further decline in prices is expected.

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