Lentil Market Update: Prices Below MSP in All Mandis

26-Dec-2024 02:23 PM

Lentil Market Situation: Prices Below MSP in All Markets

For the Rabi 2024-25 season, the MSP for lentils (masoor) has been set at ₹6,700 per quintal. However, prices in markets are trending below MSP, even after weak arrivals.

Today, prices in Sagar market ranged from ₹5,600-6,000, Bihar ₹6,500-6,600, and Lalitpur for Large lentils were ₹5,700-5,800 per quintal.  

Canada container prices are ₹6,100, Australia Nipper ₹6,100, Jumbo ₹6,150, while Mundra vessel prices are ₹5,850 and Hazira ₹5,900 per quintal.  

In December, Australian lentil prices were $720 per tonne, now down to $700, while Canadian lentil prices improved by $10 to $680/ton.  

From April to November, 6.11 lakh tonnes of lentils were imported, down from 11.09 lakh tonnes last year during the same period. In the last financial year, a record 16.76 lakh tonnes were imported, still traded in domestic markets.

Lentil production and availability in Canada and Australia are higher than last year, and government agencies have sufficient stock. Nafed and NCCF are also selling Lentil.

Weak prices are affecting sowing, which has reached 17.06 lakh hectares, down 4% from last year. 

Imports of peas are also affecting the consumption of pulses.  

Even if there is a reduction in domestic production, imports will easily meet the shortfall.

With good stocks available and weak demand, trading in rising prices is risky at the moment.